Is Nashville, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, Nashville was a Seller's Market.
Key Takeaway
Nashville is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Nashville, TN
How much do homes in Nashville, TN cost?
Median Sold Price
$516,211
$316/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Nashville have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in Nashville was $516,211 in November 2023, up 0.8% from last year, and the median price per square foot was $316.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $361.1K | $324.9K | -10.0% |
| 2 Bedrooms | $379.8K | $395.4K | +4.1% |
| 3 Bedrooms | $491.6K | $499.5K | +1.6% |
| 4 Bedrooms | $738.4K | $758K | +2.7% |
| 5+ Bedrooms | $1.5M | $1.6M | +3.7% |
Summary: Nashville housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 10%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 3.7%.
Median Sold Price Compared To Nearby Cities
| Oak Hill | $1.2M | $1.9M | +50.8% |
| Belle Meade | $2.4M | $2.7M | +13.7% |
| Nashville | $511.9K | $516.2K | +0.8% |
| Forest Hills | $2.1M | $1.9M | -6.5% |
Housing Supply in Nashville, TN
How many homes are available in Nashville, TN?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 3,003 | 3,061 | +1.9% |
Summary: The Nashville real estate market had 3,061 homes for sale in November 2023, a 1.9% increase compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 227 | 233 | +2.6% |
| 2 Bedrooms | 525 | 536 | +2.1% |
| 3 Bedrooms | 1,192 | 1,203 | +0.9% |
| 4 Bedrooms | 785 | 794 | +1.1% |
| 5+ Bedrooms | 274 | 295 | +7.7% |
Summary: The Nashville housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 2.6%, 2 bedroom homes increased by 2.1%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 550 | 446 | -18.9% |
Asking Price vs. Sold Price
276 Homes Were Sold
Under Asking
108 Homes Were Sold
At Asking
60 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Nashville, you may be able to get a good deal. 62.2% of homes here sold below asking price last month.
Summary: A total of 446 homes were sold or pending in Nashville in November 2023, down by 18.9% month-over-month. Of the 444 sold homes, 62% were sold under asking, 24% 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
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 22 Days | 28 Days | +26.1% |
Summary: Homes in Nashville had an average of 28 days on market in Nov 2023, up by 26.1% compared to last year.
Breakdown of Home Sale Times
304 Homes Were Sold
Under 30 Days
106 Homes Were Sold
In 30 - 90 Days
36 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Nashville are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 446 homes were sold in Nashville; 68% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2023 of the REALTRACS MLS. All rights Reserved. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2023 Greater Chattanooga Association of REALTORS®.