Middle Tennessee's home sales market continues to sour
(Mike Osborne) — The Greater Nashville Realtor’s Association this week released its November home sales figures, and the report is mostly grim news.
The median price of a single-family home fell to $460,000 in November, a drop of $38,000 since May.
The number of closings and the number of pending home sales have both fallen by nearly half over the past six months. The number of days it takes to sell a mid-state home increased from a low of 25 days earlier this year to 41 days this past month.
On the plus side, the average number of homes on the market has doubled in recent months.