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Nashville real estate  – Home sales are moving a little bit slower now with the rising interest rates and higher prices being the most logical reason for the change. Whatever it is, it’s taking longer to sell homes now that it did last year, but we still are far from being a balanced market with an absorption  rate of only 3 months. The median price of homes sold in September increased 3.5% year over year to $290,000 according the Greater Nashville association of Realtors.

• 2732 homes closed during the month of September compared to 3008 for the same month last year
• 8847 homes are currently listed for sale and not under contract in the Nashville MLS
• the median price of Nashville homes sold was $290,000 compared to $280,000 the previous September
• the absorption rate of homes based on September sales and current inventory is still only 3 months
• The median price of Nashville condos decreased 2.4% to $218,150
• The absorption rate of condos in Nashville based on September sales and the current inventory is less than 3 months

Nashville real estate is still in an active sellers market with most of the more affordable homes selling quickly, but the higher priced homes are now available for longer periods of time. The market is shifting back to a balanced market as more people are having second thoughts about moving when they have to give up their low interest rate mortgages for one that will likely be at a higher interest rate.

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Find the value of your Nashville home here Nashville real estate values,

Benchmark realty can assist buyers in all forms of Nashville relocation needs including new construction houses, condos, townhouses, for sale by owner homes, residential lots, townhomes, lofts, and new homes in various subdivisions across the Nashville Metro region. And if you’re searching for condos or townhomes for sale in the Nashville area, feel free to browse our updated listings of Nashville condos, townhouses, townhomes, lofts on our site.

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.

In reading an article from realtor.com about buying your first home, I was appalled at the scary down payment numbers they are giving people. The old and tired 20% down payment advise just doesn’t apply in this low interest environment. Many people are shocked to find out after years of saving for this goal that it wasn’t the smartest thing to do.

Most people can get loans for their first home with no more than 5% down payment. Waiting for years to save up the extra money to meet that 20% goal on homes that are rising in value means that you lost out on the equity increase that comes with home ownership (in most cases). You might find out that after years of saving the house you wanted cost a lot more and interest rates have increased, making your house payment higher that it would have been if you had financed it with a lower down payment years earlier.

Be smart, call Larry Brewer, I’ll help you buy your first Nashville home, and probably your second one down the road. Buying a home can be an easy process if you have a professional on your side.

And in my opinion you should consider buying a home if you’ve been renting for more than one year. It’s not for everyone, but in most cases it’s more economical than renting.

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