Is Nashville, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$525,101
$313/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Nashville was $525,101 in March 2024, up 0.5% from last year, and the median price per square foot was $313.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $350K | $328.7K | -6.1% |
2 Bedrooms | $393.3K | $395K | 0.4% |
3 Bedrooms | $499.4K | $500K | 0.1% |
4 Bedrooms | $765.4K | $760K | -0.7% |
5+ Bedrooms | $1.5M | $1.6M | +5.5% |
Summary: Nashville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.1%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 0.1%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes increased by 5.5%.
Median Sold Price Compared To Nearby Cities
Belle Meade | $2.4M | $3.0M | +25.0% |
Oak Hill | $1.5M | $1.7M | +16.6% |
Nashville | $522.6K | $525.1K | 0.5% |
Forest Hills | $2.1M | $1.9M | -11.0% |
Housing Supply in Nashville, TN
How many homes are available in Nashville, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3,014 | 3,363 | +11.6% |
Summary: The Nashville real estate market had 3,363 homes for sale in March 2024, a 11.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 218 | 263 | +20.6% |
2 Bedrooms | 552 | 616 | +11.6% |
3 Bedrooms | 1,190 | 1,281 | +7.6% |
4 Bedrooms | 759 | 863 | +13.7% |
5+ Bedrooms | 295 | 340 | +15.3% |
Summary: The Nashville housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20.6%, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 13.7%, and 5+ bedroom homes increased by 15.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
506 | 578 | +14.2% |
Asking Price vs. Sold Price
333 Homes Were Sold
Under Asking
166 Homes Were Sold
At Asking
79 Homes Were Sold
Over Asking
Summary: A total of 578 homes were sold or pending in Nashville in March 2024, up by 14.2% month-over-month. Of the 578 sold homes, 58% were sold under asking, 29% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
29 Days | 35 Days | +19.7% |
Summary: Homes in Nashville had an average of 35 days on market in Mar 2024, up by 19.7% compared to last year.
Breakdown of Home Sale Times
374 Homes Were Sold
Under 30 Days
121 Homes Were Sold
In 30 - 90 Days
76 Homes Were Sold
Over 90 Days
Summary: During March 2024, 578 homes were sold in Nashville; 65% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.