Simple Laws of Supply and Demand pushing Nashville Real Estate

Nashville real estate for sale – 2313 Nashville homes sold in March at an median price of $222,400. That’s an increase of 13% over the number of homes sold last March, and an increase of 36% over last month. The inventory level is now down to 8238 homes making the absorption rate 3.5 months and dropping fast. Nashville home buyers need to expect that most good homes get offers the first day on market sometime with multiple offers. Nashville real estate is in a sellers market.

  • 2313 homes sold in the month of March compared to 2036 during the same month last year, an increase of 13%
  • The median sales price of homes sold was $222,400 compared to $195,000 last year, an increase of 14%
  • inventory of available homes is down 14% to 8238 homes
  • 334 Nashville condos sold during the month, an increase of 13%
  • the median sales price of Nashville condos was $171,831 up slightly from last year
  • inventory levels of Nashville condos are down 20.6% to 867 units
  • The absorption rate for Nashville condos based on March sales is 2.6 months

Nashville real estate sales continue to increase as inventory levels continue to decline. The laws of supply and demand will continue to push home prices higher as more people continue to move to the Nashville area.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s