The economy is improving, mortgage rates are about as low as they’ve ever been and many homes are still available at bargain prices. It’s no wonder home sales are climbing back to their pre-recession levels, Realtors say.

“Welcome to the good old days,” says Jim Terrell, managing broker for Pilkerton Realtors in Brentwood.

Homes sales were up in counties throughout the Nashville region in February. In some neighborhoods the increase was dramatic. In East Nashville’s 37206 zip code, which is especially attractive to young, urban home buyers, sales increased 169 percent over February 2011 and the average price rose 16 percent to $181,056, according to a market survey by Chandler Reports.

In the suburban Williamson County city of Thompson’s Station, February sales were 128.6 percent higher than a year ago, and the average price was up 23.6 percent to $239,669.

That wasn’t the case in every neighborhood, but for the first time in years, buyers are beginning to compete for the privilege of buying homes – at least in some of the most popular locations.

“We’re seeing homes with more multiple offers,” Terrell says.

In Davidson County, 718 homes were sold in February 2012, a 37 percent increase over the 524 houses that changed hands in February 2011. The average price declined 6.7 percent to $172,653, but in some neighborhoods prices increased.

In the 37212 zip code, which includes the Hillsboro-West End neighborhood, 15 homes were sold in the second month of 2012, just one more than in February 2011, but the average price rose more than 10 percent to $305,849. In the Green Hills 37215 zip code, there were 36 sales, a 16.1 percent increase, and the average price rose 17.7 percent to $526,372.

Prices dropped the most in two of Nashville swankiest neighborhoods. In Belle Meade-West End, 28 homes were sold in February, a 40 percent increase. The average price was $276,673, a 43.8 percent decrease from February 2011’s average of $492,358. In Oak Hill, the average price was $270,222, less than half the February 2011 average of $580,183.

Some buyers have been waiting for the market – and prices – to reach bottom before making an offer on a house. Some have decided that moment is now.

“Consumer confidence is back, and this is such a window of opportunity, with prices as low as they are,” says Realtor Sue Glore with Bob Parks Realty in Wilson County.

Home sales rose 54.3 percent in Wilson County in February 2012, but the average price declined more than 8 percent. There were 142 sales at an average price of $178,027, compared with February 2011 when 92 homes were sold for an average price of $194,286.

The market was particularly strong in Mt. Juliet, where sales increased 100 percent, and the 37090 zip code in Lebanon, where sales were 62.5 percent higher.

“West Wilson is just popping, especially around the (State Route) 840 corridor,” Glore says.

In Mt. Juliet, home of the Providence community, 80 homes were sold, double the 2011 number. The average price was $204,249, a 12.7 percent decrease from the February 2011 average of $234,040. In Lebanon’s 37090 zip code, 13 homes were sold at an average price of $130,092. In February 2011, there were eight sales at an average price of $135,754.

The housing market has been strengthened by announcements of new jobs by companies such as Amazon.com, which selected Lebanon as the location for a new distribution center, Glore says.

In Williamson County, 221 homes were sold in February 2012, a 23.5 percent increase over the 179 sales in February 2011. Prices were almost unchanged. Last month’s average was $361,272, compared with $358,829 a year ago.

Sales declined 28.6 percent and prices declined 20.6 percent in Franklin’s 37069 zip code, where 15 house changed ownership at an average price of $337,439. In February 2011 there were 21 sales at an average price of $425,045.

Sales and prices were both up in the 37064 zip code in Franklin. There were 72 sales, 60 percent more than the 45 sales in February 2011. The average price was up 8.2 percent to $339,292.

The Williamson County market is traditionally strong, says Terrell, managing broker with Pilkerton realtors.

“Williamson can service all price points. The schools are good. It’s convenient to Cool Springs and it isn’t a bad commute into Nashville,” he says.

In Rutherford County, sales rose almost 2 percent in February 2012 and the average price declined 3.5 percent. There were 229 sales for an average price of $152,950, compared with 225 sales at an average price of $158,433 in February 2011.

That relative stability is a good sign, Crye-Leike Realtor Tom Williams says.

There’s another indicator of growing strength in the market, says Williams. Home builders are swinging hammers and building houses throughout Rutherford County. Of the 1,268 homes for sale in Murfreesboro on one recent day, 241 were new construction. Of the 245 houses for sale in Smyrna, 51 were new.

“There’s nothing negative about the market. It’s moving,” he says.