October 2020 Market Update

Nashville real estate CONTINUES to boom through the final quarter of 2020. With 4,364 total closings in the month of October, that figure is up 17% as compared to last year. Kristy Hairston, Greater Nashville Realtors president stated; “The continued increase in home sales rivals anything we’ve seen before. Much of the influx in home sales stems from more and more companies who continue to expand their work from home policies. Consumers who have the option are leaving larger cities to find more affordable options. The greater Nashville area has many amenities of larger cities and more affordable housing options in some areas. Pending sales also continue to remain strong, which sets the stage for next month.”

A single-family home was on the market for an average of 25 days during the month of October and sold for a median price of $349,000 compared to last year’s median price of $316,702. Inventory was also down by almost 4,000 as compared to 2019’s inventory during the month of October. Properties are moving, and moving quickly!

 

Data sourced from: https://www.greaternashvillerealtors.org/news/2020/11/09/home-sales-release/housing-market-continues-to-reach-historic-numbers/

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