Nashville real estate for sale and May 2021 market report – You may have heard that it’s a very hot market, and it’s true. Home sales are up 40% and inventory is down 64%. Most new construction is under contract before it’s even started, and any new listings are usually sold the first day on market, usually with multiple offers.

Here are a few of the highlights for Nashville area homes

• 3214 homes sold in May compared to 2759 for the same month last year
• the median sales price for sold homes was $400,000 up 21.6% year over year
• the number of available listings dropped 64% to 2557
• the absorption rate based on April home sales is 1 month
• 586 Nashville condos sold during the month an increase of 55% over May 2020
• the median sales price of Nashville condos was $277,900 and increase of 23% year over year

 

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