Nashville Real Estate – July 2020 Update

Nashville Real Estate for sale –  Nashville home sales have picked up in spite of fears about the virus with number of closings of homes  increasing 26% over the May of this year and down only 1.5% compared to June of last year. Considering the fact that listing inventory is down 21% compared to last June the number of closing is very impressive.

• • 3478 homes closed during the month of June compared to 2759 in May so sales increased by 26% percent in one month but compared to the same month last year sales of single family homes were down 1.5%
  • 6825 single family homes are currently listed for sale in Nashville compared to 8274 last year, an inventory reduction of 21%
  • the median price of Nashville homes sold was $331,448 compared to $319,990 the previous June an increase of 3.5%
  • the absorption rate of homes based on June sales and current inventory is now down to 2 months

Nashville real estate is in a sellers market with inventory levels still excessively low in most areas.

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