Green hills real estate August 2014 – During the month of July, 34 Green Hills homes sold at an average price of $699,753. The absorption rate has moved up to 6 months putting Green Hills real estate in a balanced market for now. That may seem misleading if you are looking for an affordable home or condo in Green Hills, because those usually have offers the first day on market.

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Usually one of the fastest paced real estate areas in Nashville, Green Hills real estate is always in high demand because of location. Close to everything downtown, but still with a neighborhood atmosphere. Convenient shopping and dining draw visitors with around the state to exclusive shops and fine dining around the Green Hills mall.

• 34 Green Hills homes sold in July compared to 33 during the same month in 2013
• The average price of Green Hills home sold was $699,753 compared to $712,913 last July
• The average size of Green hills homes sold was 3556 square feet making the average price per square feet at $197
• The average days on market was down to 52
• 22 Green Hills homes are currently pending
• 206 Green Hills homes are currently listed in the Nashville MLS as available for purchase
• The absorption rate of Green Hills homes for sale in Nashville based on July sales and available inventory is 6 months

The market for Green Hills condos is even hotter than the houses with an absorption rate of a little over one month

• The average price of Green Hills condos sold in June of 2014 was $214,225
• the average size of condos sold was 1224 square feet
• the list price to sales price ration was 98%
• 24 Green Hills condos sold during the month of June
• 32 Green Hills condos are available for purchase

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I tell buyers to be careful with averages, and Green Hills is one of those areas that averages are not a good measure of what to expect because homes range from cottages built in the 1950’s with 2 bedrooms and one bath, not new luxury homes built on a lot that previously held one of those small cottages. Homes in Green Hills are very expensive compared to all other areas in Nashville with the exception of Belle Meade homes. People will pay the price of Green Hills homes for the convenience.

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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