The Greater Nashville Association of Realtors posted their month sales figures today (http://gnar.org/news/septhomesales).  Sales are up, inventories are down, and pricing is up compared to September 2012.  Pending sales were up compared to 9/2012.  This indicates that October sale will exceed 10/2012.  It is significant to note that the difference in the number of pending sales between 2012 and 2013 has been declining most months this year.  This it likely to translate in to a flat market as we head into 2014.

Here are the year to date sale through the end of the third quarter for the past 4 years:

Sales though 3rd quarter
2013	Res	20254
	Condo	2660
2012	Res	16489
	Condo	2216
2011	Res	13200
	Condo	1685
2010	Res	13532
	Condo	1943

GNAR does not report Median Price by Quarter.  This is a better indicator of overall market pricing trends as opposed to comparisons of month to month or month to the same month in the previous year.  This is due to the larger data sample available for a quarterly analysis.

An analysis of median price by quarter show significant price gains in comparison of year over year and prior quarter.  Basic economic theory is in play here.  Supply is down, demand is up, pricing is move forward.

Median Price by Quarter
2012	1st	Res	$162,050		2013	1st	Res	$169,900
		Condo	$139,900				Condo	$146,434
	2nd	Res	$175,000			2nd	Res	$195,500
		Condo	$153,500				Condo	$163,000
	3rd	Res	$177,000			3rd	Res	$198,000
		Condo	$149,900				Condo	$162,250
	4th	Res	$180,635
		Condo	$151,950