Nashville homes for sale – The virus still has some impact on home sales at this point with the number of closings in May down 15% compared to May of 2019, however the median price of homes sold was up year over year by 3.5% to $329,900.
- 2759 homes closed during the month of May compared to 2480 in April so sales increased by 11 percent in one month but compared to the same month last year sales of single family homes were down 25%
- 7086 single family homes are currently listed for sale in Nashville compared to 8254 last year, an inventory reduction of 16%
- the median price of Nashville homes sold was $329,900 compared to $318,000 the previous May an increase of 3.5%
- the absorption rate of homes based on May sales and current inventory is still only 3 months
Nashville real estate is in a sellers market with inventory levels still excessively low in most areas.
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