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Tennessee’s median home price was 6.8% higher in April 2019 than a year before

TENNESSEE REALTORS

There were 7,202 single-family home closings in Tennessee in April 2019, a slight rise (+1.4%) from 7,102 in April 2018; the median home price was $235,000, up +6.8% from $220,000 a year earlier; and the number of available homes on the market decreased 14.5%, from 21,823 to 18,654, according to data compiled by Tennessee REALTORS®.

“The spring season is in full swing, with summer just around the corner, and Tennessee’s housing landscape is showing similar trends from the same time a year ago,” said Kathy Tucker of Chattanooga, 2019 President of Tennessee REALTORS®. “We continue to see brisk sales, even as home prices rise and the number of available homes remains tight. It’s a challenging market, but one with ample opportunities for buyers and sellers if they approach the process carefully and with good guidance.”

The tables below summarize Tennessee’s April 2019 housing report:

CLOSINGS

April 2018

April 2019

Change

Single-Family

7,102

7,202

+1.4%

MEDIAN PRICE

April 2018

April 2019

Change

Single-Family

$220,000

$235,000

+6.8%

INVENTORY

April 2018

April 2019

Change

Single-Family

21,823

18,654

-14.5%

Of the available inventory, about half is in Middle Tennessee, where the median price, at $269,900, is highest. In East Tennessee, the median single family home price is $209,000, and in West Tennessee it stood at $170,000.

Tennessee REALTORS® is one of the state’s largest trade associations, with 21 local associations and 28,000 members. To learn more, visit www.tnrealtors.com.

By | 2019-05-23T21:56:32-05:00 May 23rd, 2019|Categories: Business, BW-News, BW-Real-Estate, Featured - BVHP|Comments Off on Tennessee’s median home price was 6.8% higher in April 2019 than a year before

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