Today I’m answering the question of, “How does the Nashville real estate market look right now in the fourth quarter of 2017?” I’ve taken a look at the latest numbers and I’d like to share them with you:
- Sales are down by 1.7% in the last month, but they are up 4.2% from this time last year.
- Homes are spending an average of just 27 days on the market. However, this number varies depending on the neighborhood you’re in.
- The median sale price for single-family homes is up 6.4% from last year. It has gone from $261,000 to $277,642.
- The median sale price for condos is up 11.8%, from $181,00 to $208,000.
As you can see, we continue to be in a strong seller’s market here in Nashville. Our inventory remains low, our interest rates remain low, and it’s a good time to enter the market whether you’re thinking of buying, selling, or both.
If you have any questions about what the numbers look like in your specific area, don’t hesitate to give me a call or send me an email. I would love to hear from you.