September 2020 Market Update

September has come to an end, along with the third quarter of 2020 and the Nashville Real Estate market still seems to be going strong. September 2020 has seen a 17% increase in closings as compared to September of 2019. Kristy Harrison, Greater Nashville Realtors President stated “The housing market has recovered nicely and continues with positive gains. The uptick in closings means that buyers are still in the market for homes despite the low inventory,” and that “The Greater Nashville area remains increasingly attractive to consumers looking to relocate to our great city. With remote work being a part of our daily lives, we can expect to see change in their home location preferences.”

There were a total of 4,336 closings last month according to GNR and 3,799 pending sales at the end of the month. A single-family home was on the market for an average of 29 days and the median sales price of a residential single-family home was $348,000 in September.

Sales year to date has so far seen a 2% increase from 2019 and inventory continues to remain low in Middle TN.

Data sourced from: https://www.greaternashvillerealtors.org/news/2020/10/07/home-sales-release/third-quarter-sales-data-continues-to-climb/

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