Is Nashville, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Nashville has remained a Seller's Market.
Housing Prices in Nashville, TN
How much do homes in Nashville, TN cost?
Median Sold Price
$529,381
$313/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Nashville was $529,381 in April 2024, up 2.2% from last year, and the median price per square foot was $313.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $349.4K | $327.3K | -6.3% |
2 Bedrooms | $389.5K | $396.6K | +1.8% |
3 Bedrooms | $497.6K | $504.7K | +1.4% |
4 Bedrooms | $762.9K | $760.3K | -0.3% |
5+ Bedrooms | $1.5M | $1.7M | +12.8% |
Summary: Nashville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.3%, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes increased by 12.8%.
Median Sold Price Compared To Nearby Cities
Belle Meade | $2.5M | $3.1M | +24.7% |
Oak Hill | $1.6M | $1.9M | +23.3% |
Nashville | $518K | $529.3K | +2.2% |
Forest Hills | $2.1M | $1.9M | -9.8% |
Housing Supply in Nashville, TN
How many homes are available in Nashville, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3,346 | 3,716 | +11.1% |
Summary: The Nashville real estate market had 3,716 homes for sale in April 2024, a 11.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 251 | 296 | +17.9% |
2 Bedrooms | 601 | 633 | +5.3% |
3 Bedrooms | 1,293 | 1,438 | +11.2% |
4 Bedrooms | 854 | 959 | +12.3% |
5+ Bedrooms | 347 | 390 | +12.4% |
Summary: The Nashville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 17.9%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 12.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
633 | 656 | +3.6% |
Asking Price vs. Sold Price
339 Homes Were Sold
Under Asking
204 Homes Were Sold
At Asking
111 Homes Were Sold
Over Asking
Summary: A total of 656 homes were sold or pending in Nashville in April 2024, up by 3.6% month-over-month. Of the 654 sold homes, 52% were sold under asking, 31% were sold at asking, and 17% were sold over asking.
Days on Market for Nashville, TN
How long does it take to sell a home in Nashville, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
27 Days | 31 Days | +14.3% |
Summary: Homes in Nashville had an average of 31 days on market in Apr 2024, up by 14.3% compared to last year.
Breakdown of Home Sale Times
441 Homes Were Sold
Under 30 Days
143 Homes Were Sold
In 30 - 90 Days
63 Homes Were Sold
Over 90 Days
Summary: During April 2024, 656 homes were sold in Nashville; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.