Nashville Real Estate for sale and May market statistics - Home sales are fairly flat compared to last year sales prices were up 25% and the inventory levels are up considerably.
- 3209 homes sold in Nashville during May of 2022 compared to 3214 for the same month last year
- the median sales price for Nashville homes was $$498,785 up from $$400,000 last year, an increase of 24.6%
- 4114 homes are available for purchase at the end of May an increase of 60% compared to the same period last year
- the absorption rate based on May home sales is still impressive at a little over one month
- 558 Nashville condos sold during the month compared to 586 for the same month last year
- the median sales price of Nashville condos was $340,506 compared to 277,900 last year, an increase of 22.9%
Most experts believe that prices will not continue to rise as quickly as the past few years due to the impact of rising interest rates, and inventory levels are rising a sure sign that the market is slowing.
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This posting and the contents written here are the intellectual property and opinions of Larry Brewer of Benchmark Realty. Providing real estate services to clients in Nashville, Brentwood, Franklin, Spring Hill, Green Hills, and the middle Tennessee area
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