In GNAR News today:

HOME SALES DECREASE FOR MARCH; PRICE INCREASES FOR BOTH SINGLE FAMILY AND CONDOS

The Greater Nashville area saw 1,673 homes sold in March 2011, resulting in a 9.6 percent decrease compared to the 1,851 closings reported in March of 2010.  First quarter closings for 2011 also decreased compared to first quarter 2010, with 3,908 in 2011 and 4,192 in 2010.

The first-time homebuyer tax credit skews closing comparisons for the first half of the year. It is worthy to note that in March of 2011, closings were up nearly 10 percent over March of 2009, when there was no special tax credit in effect.

Median price for both single-family homes and condominums showed increases compared to March 2010.  The median price of a single-family residence was $165,000 in March 2011 compared to $159,250 last March.  Condominiums for 2011 were a median price of $143,000 compared to $137,450 in March 2010.