Nashville Real Estate sales increased 11.7% compared to the April of 2015 – 3,284 Nashville home closings were reported for the month of April, according to figures provided by the Greater Nashville Association of REALTORS®. Median prices of single family Nashville homes increased 11.1% and Nashville condo prices increased 14%.
here are the comparisons
There were 3,756 sales pending at the end of the month, compared to the 3,198 pending sales at this time last year. The average number of days on the market for a single-family home was 58 days.
- The median residential price for a single-family home during April was $250,000, up 11.1% compared to last year
- The median price for Nashville condos was up 14% to $193,473.
- Inventory at the end of April was down 11% compared to the same month last year with only 8,318 single family homes available.
- average days on market for single family Nashville homes was 58 days
The absorption rate of Nashville homes is only 3 months based on the number of available homes at the end of April and the number of homes sold during the month. Expect the absorption rate to drop even lower as we get deeper into early summer when Nashville real estate is traditionally the most active.
Last year Forbes listed Nashville fifth on their list of cities Americans are flocking to. The Nashville metro area was recognized by the Brookings Institute as the fifth best metro area for job growth over the past five years, leading to a sustained increase in home sales. The suburbs surrounding Nashville including Franklin, Murfreesboro, Brentwood, Hendersonville, and Spring Hill have all been growing as fast or faster than Nashville itself, in large part because they have land that hasn’t already been developed.
If you would like to sell your Nashville real estate or Nashville condo, let me know, I can get top dollar for your existing home, and negotiate a great deal for you next one.
We're sorry, but there’s nothing to display here; MLS data service is not activated for this account.
