Nashville Housing Market Guide
While best known for its rich culture, professional sports, and vibrant music scene, Nashville is also quite the real estate hub. With newcomers coming from far and wide in search of some southern twang, the Nashville housing market has grown to new heights and appears to be going nowhere but up.
Whether you’re looking to buy or sell a home in Nashville, it’s beneficial to have a professional by your side to help navigate this competitive market. With decades of valuable industry experience, the experts at Mark Spain Real Estate are more than well-equipped to guide you through the Nashville housing market. Below, we’ve compiled a comprehensive guide to Nashville real estate for potential buyers and sellers of the Music City.
Nashville Housing Market Guide
Nashville Housing Market Overview
Whether selling a home, buying a home, or both, you should familiarize yourself with local real estate trends in the Nashville housing market. Overall, our real estate experts recommend evaluating the following factors while navigating Nashville real estate:
Median Listing Price
Nashville’s median listing price is $649,000, as of May 2023.
Number of Active Listings
The number of active listings in Nashville as of May 2023 is 3,451 listings, up 7% from May 2022.
Days on Market
As of May 2023, the average number of days on the market for Nashville listings is 29 days, up 141% from May 2022.
How Much Do Homes in Nashville Sell For?
The median sale price for a Nashville home listing is $482,000, as of May 2023. Generally, Nashville real estate has consistent supply and demand, as this city welcomes newcomers eager to buy a home and longtime residents looking to relocate within the area. While Nashville’s inbound home buyers come from all across the country, most of its home buyers are current residents relocating within the Nashville metropolitan area.
When Is the Best Time to Buy or Sell a Home in Nashville?
When entering the Nashville real estate market, buyers and sellers often ask: When is the best time to buy or sell a home? There’s no right or wrong answer to this question. However, prospective sellers and buyers can make their best guess by evaluating market conditions. If you’re buying a home, winter might be your best bet at a solid bargain. During this time, you can expect less buyer competition, faster closings, and eager sellers looking to get their homes off the market. And although the weather may not be optimal for a move in January or February, the risk outweighs the reward.
From a seller’s standpoint, your listing timeline may depend on your specific goals. If you want to maximize your profit, consider listing your home in July. However, if you prioritize a quick sale, May might be your best bet. Generally, listing a home during the spring and summer is a recipe for success. During this time, supply and demand are typically at their peak, as the warm weather inspires buyers and sellers to take the jump and start their next chapter. However, sellers can also find success in the fall and winter as well by taking advantage of these seasons’ low seller competition and holiday home staging.
How Can I Sell My Home Fast in Nashville?
Homeowners needing to sell their homes fast should have no problem in Nashville. With market conditions often in the seller’s favor, Nashville real estate yields large buyer pools, competitive pricing, and quick sales. In May 2023, the average days spent on the market for a Nashville listing was 29 days.
However, with the right real estate agent and a solid home-selling strategy, you can give your listing the competitive edge it needs to sell even quicker. When working with the expert listing consultants at Mark Spain Real Estate, you can overcome any obstacle standing between you and your quick sale. From revitalizing your curb appeal to offering home staging expertise, our team will provide you with top-performing selling strategies to sell your home fast.
What Are the Best Neighborhoods in Nashville?
The Nashville housing market is home to several high-quality residential areas and neighboring cities. From central neighborhoods with an urban feel to suburban communities on the city outskirts, Nashville has settings for all kinds of households. Read below to learn more about some of Nashville’s top neighborhoods and nearby cities.
Downtown Nashville
Downtown Nashville is the city’s ultimate cultural hub for music, food, and fun. Home to urban houses fit for any-sized household, Downtown Nashville offers cozy bungalows and modern townhomes. Not to mention, it also hosts several gorgeous parks, historical museums, and culinary hotspots.
Clarksville
Clarksville is a popular city located 40 minutes northwest of Nashville. Home to many historic landmarks, nature trails, delicious restaurants, and a thriving art scene, Clarksville fosters exciting lifestyles for its 150,000+ residents.
Murfreesboro
With robust history and widespread cultural appeal, Murfreesboro is a popular spot among locals and visitors. Residents love Murfreesboro for its perfect combination of urban and rural characteristics, as well as its charming bungalows and historic craftsman homes.
Columbia
Delicious restaurants, designer shopping, and a thriving music scene — these are just a few of the premier amenities Columbia has to offer. For those wanting to settle down outside of Nashville, Columbia offers spacious properties for families to make their own.
Antioch
Located just 12 miles southeast of Downtown Nashville, Antioch is one of the city’s fastest growing neighborhoods. Residents love Antioch for its convenient location, affordability, neighborhood safety, and more.
Sell a Home in Nashville with Mark Spain Real Estate
Do you want to buy or sell a home in Nashville? The industry professionals at Mark Spain Real Estate are here to help you navigate Nashville real estate. With decades of industry experience, our team will help you become an expert in the Nashville housing market hassle-free! Check out our Guaranteed Offer Program for the potential to receive a competitive cash offer on your home in only 21 days. Contact our agents today!
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