Nashville homes are in a sellers market with 37% reduction in inventory of single family homes compared to the same period last year and the number of closings increased 15% in September compared to September last year. Most affordable homes have offers the first day on market and in some cases several offers making it more important than ever to be represented by an experienced agent no matter if you are buying or selling.
- the median price of Nashville area homes increased 9.4% to $348,000 in September compared to the same month last year
- inventory levels of Nashville homes are down 37% in the last 12 months
- 5195 Nashville homes are currently listed for sale but many are still under construction
- the median price of Nashville homes increased 9.4% year over year to $348,000
- the absorption rate of homes based on September sales and current inventory is now less than 2 months
- average days on market is down to 29 days
- 552 Nashville condos sold during the month compared to 457 last year, a 20% increase
- The median price of condos in Nashville increased 4% to $245,000
Nashville real estate is in a sellers market with inventory levels still excessively low in most areas.
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