What’s the scoop on the Nashville real estate market this summer? We’ve got the details!
Nashville market data indicates a trend of an increase of $12,000 (5%) in median home sales over the past year. The average price per square foot for this same period rose to $172, up from $157.
| Today | 1 Month Ago | 1 Year Ago | |
| Total Inventory | 1,812 | 1,914-5% | 1,952-7% |
| Median List Price | $335,000 | $329,000+1% | $284,900+17% |
| % Distressed | 0% | 0% | 0% |
| Median Days on Movoto | — | — | 52-100% |
| Median House Size | 1,971 | 1,990 | 1,950+1% |
| Median $/Sq. Ft. | 178 | 175+1% | 147+21% |
And according to the Nashville Business Journal, “Nashville’s stature among the hottest housing markets in the nation, behind just Seattle and Portland. That’s according to Ten-X, an online real estate marketplace. It’s been a year since Nashville last enjoyed a top-5 ranking. The ranking accounts for sales activity, the price tags of those deals, building permits and growth of the economy and population. Ten-X said it seeks to evaluate the current state of affairs while also weighing forecasts for each market.”
And Tex-X had some amazing boasts for Nashville! They said, “Driven by significant gains from its key sectors, Nashville has enjoyed strong economic drivers in arenas like education/healthcare services … A flurry of downtown construction projects has led to a boom in the industry, during which employment grew 6.2 percent —that’s 3 percent higher than last year and 14.3 percent higher than its prior cyclical peak. While the pace of new building has aroused concern that it could lead to overbuilding, local homes have remained affordable, and the area’s population gain at 1.9 percent in recent years is more than double the U.S. rate, trending toward continued growth in its single-family housing market.”
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