Nashville real estate for sale and August market report - sales of single family homes in Nashville increased 18% in July compared to the same month last year, and the median price increased 6% to $234,000. The current inventory or homes for sale in Nashville is down 12% to 9094 active listings, creating an absorption rate of less than 3 months, keeping Nashville real estate in a seller's market. I expect prices to continue to rise as long as interest rates stay favorable.
- the median price of Nashville homes sold in July was $234,900
- Average days on market for sold homes is down to 57 days
- 3224 Nashville homes sold during July compared to 2728 in July of 2014
- Nashville condo sales for the month increased 24% to 435
- the median price of Nashville condos sold was $170,000
- the inventory of available condos is down 19% compared to the same time last year
- the absorption rate of Nashville condos is down to 2 months
Nashville real estate is in a seller's market right now, and from all indications, prices should continue to increase for the near future as interest rates remain low, and more people move to the area. Some of the homes in more popular neighborhoods are having multiple offers the first day on market. If you are interested in selling your Nashville home or Nashville condo, contact me here. I'll help you get the most from you property, and help you find your next home.
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