April Market Update: Nashville
Mark Spain Real Estate has curated Nashville, Tennessee’s Market update for April! As summer approaches, let’s not forget to pay attention to the changing markets! Mark Spain Real Estate has summarized the key real estate trends of the Nashville April market so you can stay well-informed!
At Mark Spain Real Estate, we take time to absorb all the information about the market each month to better understand what is going on in the industry. One of our core values is to continuously grow and improve, and by analyzing the markets we can better guide our clients to success while improving our knowledge! Market Updates are compiled to help you understand what conditions you are selling in!
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The Hard Facts: Nashville Real Estate Market Update
- The number of active listings decreased 28% from the previous month
- Average number of days units spent on the market before being sold was up 31% compared to last year
- The median sale price for a home in Nashville market was at $335K
- The number of homes sold decreased 15% month over month
What Does This Mean for You?
Buyers, this smaller inventory means that those who waited to buy may have had a smaller selection to choose from. Fewer number of homes sold in the Nashville market allows for buyers to negotiate better terms.
Sellers, the number of days home spent on the market increased from 35 to 46 days this April. This higher number of days may signal a slowdown in the local inventory turn over rate. The median sales price slightly decreasing from $338K in March to $335K in April signals that sellers are receiving less money for their homes compared to last month. The number of homes sold decreasing month over month is simply indicative of the unprecedented time we are going through.
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. With Mark Spain Real Estate, you’ll get maximum exposure to your Nashville home coupled with an unparalleled level of customer experience. Our team knows the Music City market well, and your experience is our top priority. Contact us today to get a head start.