Nashville Homes market report December 2013 – Real estate sales continued to increase in Nashville in November with 2287 closings, up a modest 4 percent compared to November of the previous year. Most experts think that the rising prices (up an average of 8 percent), and shrinking inventory are having an impact on home sales in the Nashville area. We don’t really see anything in the near future that would change that trend.
- 1953 single family Nashville homes sold during the month compared to 1815 last November an increase of 7.6%
- the median sales price for homes sold was $195,000 compared to $179,900 last November
- 9369 homes are currently listed in the Nashville MLS as available for purchase, down 7% from last year
- 2069 homes are currently pending sale
- the absorption rate of Nashville homes is down to 4.8 months
- 222 Nashville condos sold during November slightly less than the 238 sold last year
- the median price of condos sold was $150,000 down from the $152,000 last year
- year to date closings of Nashville real estate through November are up 18.9% to 28476
Nashville real estate is still in a sellers 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 12/9/2013)
$219,900 : 705 Freda Villa, Madison3 beds, 2 full baths
$4,699,000 : 340 Kinnie Rd, Franklin5 beds, 4 full, 2 part baths
$135,000 : 650 Gibbs Rd, Ashland City3 beds, 2 full baths
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