Williamson County Real Estate: Nashville Real Estate - October 2017 Update

Nashville Real Estate - October 2017 Update

Nashville HomesNashville 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.

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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Comment balloon 0 commentsLarry Brewer - Benchmark Realty llc • October 10 2017 03:25PM

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