Nashville real estate for sale and April 2023 market report – Inventory levels are almost triple what they were 12 months ago but the prices are almost the same as they were last March.

• 2392 homes sold in Nashville during March of 2023 compared to 2948 for the same month last year a reduction of 23%
• the median sales price for Nashville homes was $465,000 almost the same as last years $461,620
• 6066 homes are available for purchase at the end of at end of March compared to 2298 last year
• the absorption rate based on March home sales and available inventory is three months
• the average days on market for Nashville homes is now 54 days compared to 15 days last year
• 494 Nashville condos sold during the month compared to 598 for the same month last year
• the median sales price of Nashville condos was $327,885 compared to $319,690 last year

High interest rates has slowed the Nashville real estate market over the last 12 months however mortgage rates have been slowly coming down in the last few months and some experts expect that to continue. Housing prices has stopped increasing for now and buyers usually have a chance to see homes when they are listed before they make an offer, that was not always the case a year ago. If rates continue to decline we can expect the volume of home sales to pick up and eventually prices will follow.

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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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