October existing home sales news was up and down. The bad news is that the national median existing-home price4 for all housing types was $162,500 in October, which is 4.7 percent below October 2010. Distressed homes - foreclosures and short sales typically sold at deep discounts - slipped to 28 percent of sales in October from 30 percent in September (17 percent were foreclosures and 11 percent were short sales); they were 34 percent in October 2010.
The Good news is that Existing-home sales improved in October while the number of homes on the market continued to decline, according to the National Association of Realtors®. Total existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 1.4 percent to a seasonally adjusted annual rate of 4.97 million in October from a downwardly revised 4.90 million in September, and are 13.5 percent above the 4.38 million unit level in October 2010
Questions? I know the Nashville area real estate market well. Call me at 615-263-4800 or visit my website at www.iSellNashvilleRealEstate.com for a FREE Relocation Packet and to search for Belle Mead Homes.
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ZIP Code: 37205 Approximate Location Boundaries: Belle Meade
Location Characteristics: When you think about Belle Meade, you can't help thinking about horses. Belle Meade used to be the "nursery" for thoroughbred horses. Today, Belle Meade is a thriving community. The economy is good and jobs are plentiful which lend to the strong real estate market.
About Lucy Bottorff:
Client satisfaction is one of Lucy's primary goals. Lucy is a local native and is very familiar with the trends and motions of the local markets. Friendly and helpful...Call Lucy today!
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
