Green Hills Homes Market Report June 2012

Green Hills Homes Sales Increase 28% in June - right along with the rest of the Nashville real estate market. As anyone would expect, when the number of sales increase, eventually the prices follow, and in this case, the prices of Green Hills homes sold were up 8% compared to June last year. The absorption rate of homes based on June sale now stands at 5.75 months and with only 213 Green Hills homes currently listed in the Nashville MLS, it seems like it might be very difficult for buyers to find a good selection.

• 37 Green Hills homes sold in June compared to 29 last year, and increase of 28 percent
• the average price of homes sold in Green Hills was $669,174 up 8 percent over last year
• 23 Homes in Green Hills are currently pending sale
• 213 homes are listed in the Nashville MLS as available for purchase
• days on market is down to 108
• the list price to sales price ratio is 96%
• the average size of homes sold in Green Hills was 3744 square feet

Ok, that enough with the statistics, here is the real view from a realtor who has buyers looking to purchase homes in Green Hills, affordable homes (under $400,000) are very difficult to find, and when you do find one, it probably needs updating or maintenance. If it's in good move in condition, it will have multiple offers and probably get list price or very close to in within a few days. In the more expensive homes, the frenzy hasn't started yet, and it may not. It's not that the homes aren't selling, they just have fewer potential buyers and not as many offers. Due to the cost of building in Green Hills, I expect price to continue upward for a considerable length of time.
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