Nashville real estate market report July 2014 –The median price of Nashville homes sold in the month of June increased 7.8% compared to the same month last year to $222,000 according the Greater Nashville association of realtors. The number of home sold increased 9.4% to 3324. Inventory levels are almost identical with 10553 homes available now compared to 10,555 last year. So Nashville real estate is still in a seller’s market with an absorption rate of less than 4 months for homes and 4.7 months for Nashville condos.
- 2753 Nashville homes sold during the month compared to 2548 last June an increase of 8%
- the median sales price for homes sold was $222,000 and increase of 7.8% compared to last June
- 10,553 homes are currently listed in the Nashville MLS as available for purchase
- the absorption rate of Nashville homes based on June sales is 3.8 months
- 360 Nashville condos sold during June, an increase of 5% compared to last year
- the median price of condos sold was $171,250 compared to $159,000 one year ago, an increase of 7.7%
- 1204 Nashville condos are listed in the Nashville MLS as available for purchase, a decrease of 7% compared to last year
- the absorption rate of Nashville condos is 4.7 months
Nashville real estate is still in a seller’s market and I think it will continue in that mode until interest rates become high enough to discourage buyers. Right now it seems like that will not be in the immediate future. Builders are active, and according to the latest reports, most of the building is going on in Williamson county, Davidson county, and Rutherford county in that order.
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(all data current as of 7/23/2014)
$135,000 : 131 Rio Vista Dr, Madison3 beds, 2 full bathsListed with Coldwell Banker Barnes
$439,900 : 1454 Guill Rd, Mount Juliet3 beds, 2 full, 1 part bathsListed with RE/MAX Carriage House
$199,900 : 926 Woodland St Unit 105, Nashville2 beds, 2 full bathsListed with Benchmark Realty, LLC
$167,500 : 8704 Ambonnay Dr, Brentwood3 beds, 2 full, 1 part bathsListed with RE/MAX Elite
$189,900 : 221 Wallace Rd, Nashville4 beds, 2 full bathsListed with Urbane Residential Specialists
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