Nashville homes for sale and October 2022 market report - Inventory levels are more than double what they were 12 months ago but the prices have remained elevated.
- 2299 homes sold in Nashville during October of 2022 compared to 3209 for the same month last year a reduction of 39%
- the median sales price for Nashville homes was $478,500 up from $429,900 last year, an increase of 11%
- 7277 homes are available for purchase at the end of at end of October compared to 3385 last year an increase of 114%
- the absorption rate based on October home sales and available inventory is three months
- the average days on market for Nashville homes is now 39 days
- 391 Nashville condos sold during the month compared to 593 for the same month last year
- the median sales price of Nashville condos was $346,510 compared to $295,000 last year
Most experts believe that prices will flatten if interest rates remain elevated compared to the last 10 years, we can only make assumptions based on past history and what the Federal Reserve bank is forecasting. Homes are staying on the market longer and buyers have a better opportunity to find a home they love instead of trying to buy a home that has 10 bids on it already.
Information on this page is based on information on Nashville real estate per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed.
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