According to WSMV News 4, Nashville has ranked #2 in the United States for the fastest selling homes in the real estate world. The average home in Nashville will sit on the market for just 12 days. Compared to 2020, home prices are up 20% with a median sales price of $380,000. However, inventory in Nashville is down 50% as compared to last year. Most real estate professionals are busier than ever trying to place their clients in homes given the lack of inventory. Making it even more difficult, many out of town buyers are making “sight-unseen” offers before even viewing the property. Bidding wars are also still going strong in the Nashville real estate market and many buyers are waiving inspections and writing letters to stand out amongst their competition. However, these letter may become a Fair Housing issue. Last month was the first since July 2020 that we saw an increase in inventory hitting the market since July 2020.
