June Market Update: Nashville

June Market Update: Nashville

June Market Update: Nashville

By Mark Spain Real Estate

As the month of June comes to a close, we’ve seen Summer officially kick into gear! With warm weather in full swing, the Summer real estate market is already upon us. While we’re excited for the arrival of July, let’s not forget to recap the changes seen in June! We have summarized the key trends of Nashville’s June real estate market for you. Knowing these facts can ensure you can make well-informed decisions and stay in the know!

The Hard Facts:

  • The current median sold price of a home is up by 4.7% from this time last year, growing from $258k to $270k
  • The supply of available homes is also up by 4.5% from this time last year, a move from 21,211 to 22,166 homes
  • A home’s average days on market is down by 9% from last month, with a slight drop from 37 to 33 days

What Does This Mean For You?

The summer market is upon us! We’re living in what experts are calling the “Bargain Belt” – the Southeast is showing some dynamic growth, but the cost of living is still relatively low.  Industries continue to relocate to Nashville, which brings a natural influx of homebuyers, and this trend shows no sign of slowing down anytime soon. We’re also seeing signs of a natural summer market.  Kids are out of school, which explains the increase of available homes.  

For buyers, don’t miss out on this time to purchase your next dream home while interest rates are still low! And with an increase in inventory, there are more options available to you in your search for the perfect home. So start searching today!

For sellers, the average days on market is lower than last month. Timing is everything, so now is the perfect time to get your home listed on the Nashville market before the bustling Summer season comes to a close!

Our Advice:

No matter what chapter of life you’re in, if you are looking to sell or buy a home, make sure you are represented by a professional, full-time agent with years of experience under their belt.

Thinking about moving? Navigating the real estate market can be difficult, and you don’t want to do it alone. At Mark Spain Real Estate, we are here to help! Contact us today to get a head start.

 


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