Nashville homes for sale and May 2022 market report – Home sales on declining and prices are rising, that’s the message at this time. How long that can continue is only a guess, but the rapid rise in interest rates is starting to impact sales, so don’t be surprised is the prices start to moderate. Here are a few of the highlights for Nashville area homes

• 3095 homes sold in Nashville during April of 2022 compared to 3233 for the same month last year
• the median sales price for Nashville homes was $$480,000 up from $$385,000 last year, an increase of 24.6%
• 2787 homes are available for purchase at the end of April
• the absorption rate based on April home sales is less than one month
• 512 Nashville condos sold during the month compared to 570 for the same month last year
• the median sales price of Nashville condos was $337,628 compared to $264,525 last year, an increase of 27.6%

Most experts believe that prices will not continue to rise as quickly as the past few years due to the impact of rising interest rates, however we still have a housing shortage here in the Nashville so the demand will stay elevated for the near future.

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information on this page is based on information on Nashville real estate per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed. 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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