The Greater Nashville Association of Realtors has released the latest numbers relating to the Nashville real estate market, which show median home prices in the area are up a whopping 10% from this time last year. At last check, single-family homes are now commanding a median home price of $258,900, which as mentioned is up 10% from May 2015. The spike in prices undoubtedly relates to a tightening inventory, which continues to be less than a three month supply. For reference, a more stabilized market tends to have close to a six month supply.
Nashville certainly isn’t the only market with low inventory, though, as a dwindling housing supply seems to be a national trend that is affecting most major markets. According to reports, inventory levels were down
June 2016
Found 1 blog entry for June 2016.