Nashville Market Update- November 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 November! Take a look at our November 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 57% from the previous year and down 34% from last month.
- The median listing price for the month of November was just under $490,000
- The number of days homes spend on the market is down 19%
- The median sales price for the month of November was just over $425,000
- The number of units sold remained consistent year over year and decreased 1% month over month
What does this mean for you?
Buyers, the number of active listings has decreased 57% from the previous year and 34% 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 stayed consistent year over year and slightly decreased month over month. Higher year over year figures indicate that more buyers have been finding what they are looking for. 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.