March Market Update: Nashville
Let’s recap the Nashville market update in March as we move through April! Mark Spain Real Estate has summarized the key real estate trends of the Nashville real estate market so you can stay well-informed and make the best decisions.
Be sure to connect with us on Facebook, Instagram or LinkedIn for more insights on market trends!
Nashville Market Update: The Hard Facts
- Number of active listings was down 35% from the previous month
- The average number of days units spent on the market was up 9%
- Median sales price of a Nashville home was at $339K
- The number of units sold increased 12% month over month
What Does This Mean For You?
Buyers, the decrease in the active inventory listings in the Nashville market means that buyers who waited to buy may have had a smaller selection to choose from. The median sales price of homes in March increased from $325K in February to $339K. This increase indicates that buyers may need to negotiate deals to receive a better price compared to last month.
Sellers, the amount of days a home spent on the market increased from 42 to 46 days. This higher amount of days spent on the market may signal a slow down in the local inventory turnover rate. The number of units sold increased 12% month over month. This upward monthly sales trend indicates a positive momentum in the Nashville market. Overall, it looks like Nashville has some ups and downs for both buyers and sellers in this market. This is indicative of the unprecedented times we are in now, but don’t worry! The Nashville real estate market is always changing!
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. Our team knows this city and surrounding neighborhoods and your experience is our top priority. Contact us today to get a head start. If you would like more information or assistance, please contact us here.