Dramatic increase in Nashville home sales

Lee

This month that home closings for the month of April increased an astounding 43% compared to April 2020. The average days on the market was 26 and the median price for a single-family home was $385,000  which is a 16.67% increase over last year. Supply in the market is drastically decreased to 4,534 at the end of April, down from 9,976 in April 2020. Greater Nashville Realtors president, Brian Copeland said, “While inventory is tight, prices will only get more aggressive in the coming months. Some may use the cliché, real estate bubble, but all indicators show a market correction that has been delayed for years. Nashville’s economy matched with strong corporate relocation gives us a formula for continued market momentum.” With momentum expected to continue for the foreseeable future, now is still a great time to join the Nashville real estate investor community. Omni is excited to hear from you! See an overview of our real estate investment servicesreported HERE.