Home Prices In Nashville Just Took A $33K Jump Over Last Year, The Largest Ever | Nashville Public Radio

Home Prices In Nashville Just Took A $33K Jump Over Last Year, The Largest Ever

Jul 7, 2017

These numbers are starting to sound like more of the same, but this is beyond the consistent uptick in home prices over the past several years.

Home prices in Nashville just made their biggest annual leap in recorded history. That's because inventory is low and buyers are willing to pay for the property they really want, real estate agents say.   

Last month, the median price for a single family home in Nashville surged to $294,000. Yes, it's another all-time high. But it's also a massive jump, nearly $34,000 more than last year's median cost.

The culprits are familiar ones: high demand (lots of people wanting to buy here in Nashville) as well as low inventory (fewer and fewer properties to choose from).

According to Greater Nashville REALTORS, there were 10 percent fewer homes on the market this June than there was last year.  

June home sales figures.
Credit Greater Nashville REALTORS