May Market Update: Nashville
Mark Spain Real Estate has summarized the key trends of Nashville’s May real estate market to ensure you can make well-informed decisions and stay in the know. The end of May is here! We’ve seen warmer weather, longer days and the beginning of the summer. While we’re excited for the arrival of June, let’s not forget to recap the changes seen in May! Keep reading to get more information on our May market update for Nashville, Tennessee.
Hard Facts: Nashville Market Update
- The median sold price for a home in Nashville is up by 3.4% from this time last year and currently resides in the $263,000 range
- Available homes in the Nashville May market rose by 6.4% from May of last year, inventory is bountiful
- The average amount of days a home spends on the market is up by 3%, currently averaging at approximately 65 days ( A Mark Spain listing averages 37 days on market )
What does this mean for you?
Buyers, inventory is up and your dream home is waiting for you! You have plenty of options to choose from. Interest rates are down, don’t miss out on your chance to buy! Our May update shows that now is a great time to begin accruing equity.
Sellers, don’t let an increase in the days on market intimidate you! The larger inventory indicates we will continue to head into a more balanced and normal inventory level. Buyers are still looking. Go ahead and start the listing process before the lull of late summer hits!
As summer settles in, the most activity will be seen in June, July, and August. Now is a great time to enter the market before the natural dip in the 4th quarter. Whether you’re buying or selling, you can be settled by the new school year and spend the holidays in your new home!
Mark Spain Real Estate strives to deliver an unparalleled client experience. We provide a Guaranteed Offer Program for our sellers who are in need of a fast sale and do not want to compromise on the sale price. With the Guaranteed Offer Program, we offer a competitive cash offer and enable you to close within 21 days!
You are able to bypass the market with no showings or open houses. At Mark Spain Real Estate, we want to alleviate all of the stresses that come with selling a home, we want you to enjoy the process as much as possible. You will be able to move on to the next chapter of your life with ease!
Whatever chapter of life you find yourself in, be it needing to sell or buy, make sure you are represented by a professional, full-time agent with years of closing experience under their belt.
Mark Spain Real Estate strives to be the most knowledgeable in the markets! We take pride in being named the most trusted real estate firm in the industry. We take time in strengthening our knowledge of technology, real estate, and self improvement to feed our drive of continuously learning and growing!
Our team prepares many training activities, podcasts, and books to aid us in our ever-growing need to learn and grow. One of our core values is to continuously learn and grow, which is one way we have set ourselves apart. We strive to lead with a servant’s heart and exemplify this is all that we do!
Thinking about moving? Navigating the market can be difficult, and you do not want to do it alone. Contact us today to get a head start!