If you’ve kept an eye on the Nashville housing market in recent months, chances are you’re already aware 2017 was a rather strong year to say the least. But just how robust was the Nashville real estate market over the last 12 months? Well, according to recently released data from the Greater Nashville Realtors, 2017 truly was a record-setting year for our local market.
When it was all said and done, Nashville saw 40,482 closings in 2017, which not only represents a 3.9% jump from 2016’s total closings but also surpasses the previous record of 40,056 closings that was set in 2006.
As for market activity in December, the number of closings actually dropped by around 1% compared to December 2017’s closings, but home prices were definitely still on the rise. At the end of the month, the median price of a sold single-family home jumped from $266,408 to $294,000 year-over-year, while sold condo prices jumped from $180,000 in December 2016 to $209,450 during the last month of 2017.