Metrostudy has released the results of its 4Q15 field survey of the Nashville metropolitan area, which recorded 1,827 residential starts in the fourth quarter of 2015. That number is up 36% from the the fourth quarter of 2014.
The survey determined that new home closings also set a record high for the region, surpassing fourth quarter of 2014's prior record by 19.7%, and jumping 5% from the third quarter of 2015.
“Continued strong demand and supply in the Nashville region, evident in the record starts and closes in the fourth quarter, has translated to higher land and finished lot prices and eventually into higher new home prices,” said Eugene James, Director of Metrostudy’s Nashville region. “The single family detached median new home price in 4Q15 was $328,400 and the average price was $356,100, both all-time record highs.”