nashville mls may 2014 market trends
DESCRIPTION
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MAY 2014NASHVILLE MLS
MEDIAN SALES PRICE
NASHVILLE MLS
The Median Price for all homes sold in May was $180,000, which is 2% higher than the median price in April and 4% higher than the price in May 2013.
MAY 2014
MAY 2013
$180,000
$172,9004%
MAY 2014
$150,000
$155,000
$160,000
$165,000
$170,000
$175,000
$180,000
$185,000
$190,000
$180,000
CLOSED TRANSACTIONS
NASHVILLE MLS
The Market Trend Report for May showed a 12% increase in the number of Closed Transactions over April and a very slight decrease from sales in May 2013.
3,355
3,366 0%MAY 2014
MAY 2013
MAY 2014
0
500
1000
1500
2000
2500
3000
3500
4000 3,355
DAYS ON THE MARKET
NASHVILLE MLS
The average Days on the Market for all homes sold in May was 81. This is 2 days less than the average in April and 1 day less than the average in May 2013.
1%
81
82
MAY 2014
MAY 2013
MAY 2014
70
75
80
85
90
95
81
MONTHS SUPPLY OFINVENTORY
NASHVILLE MLS
The number of Months Supply of Inventory at the end of May was 2.8, which is an 18% decrease from April and an 18% decrease from May 2013.
2.8
3.4
18%
MAY 2014
MAY 2013
MAY 2014
0.00.51.01.52.02.53.03.54.04.55.0
2.8
DescriptionThe Market Trend Report is distributed each month on or about the 15th. The Report is based on data provided by Terradatum from the local Nashville Multiple Listing Service and is not annualized. While MLS and Terradatum data are believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Data for prior periods is not being recalculated for this report.
DefinitionsMedian Sales Price is the median price of all residential properties sold during the month. Closed Transactions are the number of residential transactions closed during the given month. Days on the Market is the number of days that pass from the time a property is listed until the property goes under contract for all residential properties sold during the month. Months Supply of Inventory is the total number of residential properties listed for sale at the end of the month (active inventory) divided by the number of sales contracts signed (pended) during the month).