Is West Nashville, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, West Nashville has remained a Seller's Market.
Key Takeaway
West Nashville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Nashville, TN
How much do homes in West Nashville, TN cost?
Median Sold Price
$701,000
$341/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in West Nashville has remained the same since last year.
Summary: The median home sold price in West Nashville was $701,000 in May 2024, up 0.4% from last year, and the median price per square foot was $341.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $330K | $326.9K | -0.9% |
| 2 Bedrooms | $443.7K | $450K | +1.4% |
| 3 Bedrooms | $662.5K | $650K | -1.9% |
| 4 Bedrooms | $854.9K | $850K | -0.6% |
| 5+ Bedrooms | $2.4M | $2.2M | -8.2% |
Summary: West Nashville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.9%, 2 bedroom homes increased by 1.4%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes decreased by 8.2%.
Median Sold Price Compared To Nearby Neighborhoods
| West Nashville | $698.3K | $701K | 0.4% |
| Hillwood | $887.5K | $870K | -2.0% |
| Hill Place | $2.5M | $2.3M | -4.2% |
Housing Supply in West Nashville, TN
How many homes are available in West Nashville, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 451 | 469 | +4.0% |
Summary: The West Nashville real estate market had 469 homes for sale in May 2024, a 4.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 22 | 26 | +18.2% |
| 2 Bedrooms | 42 | 45 | +7.1% |
| 3 Bedrooms | 169 | 181 | +7.1% |
| 4 Bedrooms | 153 | 153 | 0.0% |
| 5+ Bedrooms | 65 | 64 | -1.5% |
Summary: The West Nashville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 7.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 1.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 83 | 80 | -3.6% |
Asking Price vs. Sold Price
52 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Nashville, you may be able to get a good deal. 65.8% of homes here sold below asking price last month.
Summary: A total of 80 homes were sold or pending in West Nashville in May 2024, down by 3.6% month-over-month. Of the 79 sold homes, 66% were sold under asking, 23% were sold at asking, and 11% were sold over asking.
Days on Market for West Nashville, TN
How long does it take to sell a home in West Nashville, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 32 Days | +30.4% |
Summary: Homes in West Nashville had an average of 32 days on market in May 2024, up by 30.4% compared to last year.
Breakdown of Home Sale Times
53 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Nashville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 80 homes were sold in West Nashville; 66% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.