Nashville Market Update: February 2016

Like in much of 2015, Nashville’s strong real estate market continued to thrive in February, showing some of highest sales and pricing totals since before the t...

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Nashville Market Update: February 2016

Posted by Gary Ashton: Blog on Wednesday, March 9th, 2016 at 9:41am.

Like in much of 2015, Nashville’s strong real estate market continued to thrive in February, showing some of highest sales and pricing totals since before the the market crash that started back in 2008. In all, nearly 2,300 homes were sold in Nashville in February, which is just shy of a 10% increase from February 2015. And if you combine both January and February, home sales are in fact up over 10% compared to the first two months of last year.

A very high demand for housing in Nashville is continuing to drive prices up, which of course is great news for potential sellers. The median price in February 2016 is up 14 percent from February 2015, with all residential listings having a median price of $235,000 and condos with a median price of $175,000.

Inventory is still something the Nashville real estate market is continuing to struggle with, as the total number of listings has dropped 6 percent from February 2015. Even still, we did see a pretty substantial bump in inventory since January, however, with nearly 400 more properties listed since January.

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