Is Nashville, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Nashville is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Nashville was a Seller's Market.

Key Takeaway

Nashville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Nashville, TN

How much do homes in Nashville, TN cost?

Median Sold Price

$529,813

$307/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$18,329(+3.6%)

Key Takeaway

Homes in Nashville have sold for 3.6% more than they did a year ago.

Summary: The median home sold price in Nashville was $529,813 in October 2024, up 3.6% from last year, and the median price per square foot was $307.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $325K$321.7K
-1.0%
2 $397.1K$392.6K
-1.1%
3 $494.5K$499.3K
+1.0%
4 $750K$755.9K
+0.8%
5+ $1.6M$1.7M
+6.2%

Summary: Nashville housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 6.2%.

Median Sold Price Compared To Nearby Cities

Belle Meade
+14.5%
Forest Hills
+6.3%
Nashville
+3.6%
Oak Hill
+2.2%
Berry Hill
-10.1%

Housing Supply in Nashville, TN

How many homes are available in Nashville, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3,4863,723+6.8%

Summary: The Nashville real estate market had 3,723 homes for sale in October 2024, a 6.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 266296
+11.3%
2 624633
+1.4%
3 1,3691,432
+4.6%
4 895989
+10.5%
5+ 332373
+12.3%

Summary: The Nashville housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.3%, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 12.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
562529-5.9%

Asking Price vs. Sold Price

312 Homes Were Sold
Under Asking

141 Homes Were Sold
At Asking

74 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Nashville, you may be able to get a good deal. 59.2% of homes here sold below asking price last month.

Summary: A total of 529 homes were sold or pending in Nashville in October 2024, down by 5.9% month-over-month. Of the 527 sold homes, 59% were sold under asking, 27% were sold at asking, and 14% 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

Oct 2023Oct 2024CHANGE
27 Days30 Days+11.2%

Summary: Homes in Nashville had an average of 30 days on market in Oct 2024, up by 11.2% compared to last year.

Breakdown of Home Sale Times

320 Homes Were Sold
Under 30 Days

172 Homes Were Sold
In 30 - 90 Days

33 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Nashville are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 529 homes were sold in Nashville; 60% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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