Nashville real estate for sale - Home prices in the Nashville area continue to rise with the median price of homes sold in September up to $280,000, an increase of 8.9% over the same period in 2016.
The market for Nashville condos is even hotter with the median price of condos increasing 18.5% in last 12 months to $223,500. It sounds like a broken record, but sales are still being held back by a shortage of inventory in many areas and price ranges.
- the average days on market for homes sold was only 27 days
- the median price of Nashville homes sold was $280,000 compared to $256,900 the previous September
- the absorption rate of homes based on September sales and current inventory is only 2 months
- The inventory level of single family homes is down 4% compared to the same period last year
- The median price of Nashville condos increased 18.5% in last to $223,500
- The absorption rate of condos in Nashville based on September sales and the current inventory is less than 2 months
- 361 condos sold in Nashville in September compared to 390 last year during the same period
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.