Nashville Market Update- August 2021
The real estate market remains strong! Homes are staying on the market for a shorter period of time and are selling for higher prices than before! Let’s not forget to pay attention to the changing Nashville Market for the month of August! Take a look at our August 2021 Nashville Real Estate Market Update for the month to understand the residential real estate activity in your area.
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Hard Facts- Nashville Market Update
- The number of active listings is down 60% from the previous year and down 17% from last month.
- The median listing price for the month of July was just under $480,000
- The number of days homes spend on the market is down 23%
- The median sales price for the month of July was $410,000
- The number of units sold decreased 11% year over year and decreased 13% month over month
What does this mean for you?
Buyers, the number of active listings has decreased 60% from the previous year and 17% from the previous month. This indicates that those who have waited to buy may have a smaller selection to choose from.
Sellers, the number of units sold has decreased year over year and month over month. This indicates a greater opportunity for buyers to make negotiations. The decrease in the number of days homes spend on the market signals a positive trend in the local turnover rate.
Mark Spain Real Estate is here to help you make smart and informed real estate decisions. Navigating the real estate market can be difficult, and you don’t want to do it alone. That’s why we are grateful to provide up-to-date information for our clients to stay informed about recent residential real estate trends. Our team knows the Nashville market well, and your experience is our top priority. Take advantage of the real estate market now and get your home sold FAST! Contact us today to get a head start.