2.8% Increase in Nashville Residential Real Estate

2.8% Increase in Nashville Residential Real Estate

2.8% Increase in Nashville Residential Real Estate

A 2.8% increase in Nashville residential real estate for the month of April 2018 versus same time last year.

100 new residents are relocating to the greater Nashville area a day.

  • 3,419 home closings in April 2018
  • 3,325 home closings in April 2017

Ytd closings through April ended at 11,629, a 0.3 percent decrease from the 11,663 closings reported through April 2017.

At the end of April, there were 3,430 sales pending compared with 3,540 pending transactions at this time last year.

32 days is the average time on market for residential single family homes in the great Nashville area.

April’s 2018 inventory was 8,876 versus 8,481 in April 2017.

Median price for this segment of single family home in April was $295,000 and $222,750 for a condominium. An overall increase over last year as well.

“Home sales for the second quarter started with the types of positive gains expected for this time of the year,” Greater Nashville Realtors President Sher Powers said in a release. “The most encouraging gain is in inventory.”

Nashville sits in the top ten cities for emerging tech trends in real estate:

  1. Seattle
  2. Austin, Texas
  3. Salt Lake City
  4. Raleigh/Durham, N.C.
  5. Dallas/Ft. Worth
  6. Fort Lauderdale, Fla.
  7. Los Angeles
  8. San Jose, Calif.
  9. Nashville
  10. Boston

Nashville native and tech real estate guru Jarod Tanksley indicated that home automation is a an ever increasing demand from buyers. Smart home automation from controlling lights and temperature to door, locks and monitoring. Green real estate trends also play a critical and growing concern for the tech savvy buyer of today’s market.

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