Nashville Real estate for sale and May market report - The median price for homes sold during the month of April increased 10% compared to the same month last year according to the Greater Nashville association of realtors. The price increases will likely continue as long as we have a shortage of homes to purchase. Right now that's the problem that buyers are facing.
- the absorption rate of Nashville homes based on April sales is less than 3 months
- the average days on market for single family homes sold was 47 days
- the median price of homes sold was $275,000 compared to $250,000 the previous April
- the absorption rate of Nashville condos is 2 months based of April sales and available inventory
- the median sales price of Nashville condos during the month of April was $195,255
- 355 Nashville condos sold during the month of April and 763 are currently available for purchase
Nashville real estate is in a very active sellers market with inventory levels shrinking on a monthly basis, driving up the prices of homes and condos to record prices. With the shortage of available lots and the growth in the area, I expect this trend to continue for several years.
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. information on this page is based on information on single family homes for sale in Nashville per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed.
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