Newly released data from the Greater Nashville Realtors shows the number of home sales and also the median sales price increased in March despite the on-going COVID-19 crisis.
In all, the Nashville area recorded 3,346 closing across the nine county region, a jump of about 3.4% compared to March 2019. Furthermore, the median sales price for a single-family home jumped up by $25,000 to $300,000 compared to last year, which was a welcoming sign given the circumstances.
As for looking ahead, April’s numbers should provide a more accurate picture of how the market has changed during the outbreak, and early numbers are, not surprisingly, showing a slight decline.
The same data also revealed the number of pending deals is just below last year’s total around this time, and the number of homes on the market dropped 15%, suggesting some would-be home sellers are in wait-and-see mode.
The Greater Nashville Realtors tracks data from Davidson, Cheatham, Maury, Robertson, Rutherford, Sumner, Williamson, and Wilson counties.