Nashville, Tennessee Real Estate PricesPosted by Gary Ashton: RE/MAX on Wednesday, June 27th, 2012 at 3:52pm.
The average price per square foot in Nashville Tennessee for May 2012 was $103. This was down 14.2% when compared to May 2011. The median sale price of homes the period starting February 2012 and ending April 2012 was $142,500 for 409 home sales. This was down 5% from the previous year, which comes to being a total of $7,500 lower. This is most likely due to the huge drop in home sales, which decreased by a whopping 72.8%. There are currently a lot of homes on the market, though, with the total being 3,935, so there certainly is no shortage of homes available for purchase.
For the week that ended on June 6th, 2012, the average listing price for a home for sale in Nashville, Tennessee was $316,626. This was one-tenth of a percent higher than the previous week, resulting in an average increase of $188 across the board. For the two most popular neighborhoods in the Nashville real estate market, West Meade and Inglewood, the average listing prices of homes were $497,013 and $191,218 respectively. West Meade saw a 2.2% increase in their average prices, while Inglewood saw a very slight drop in theirs.
If home sales continue to drop, you can look for the prices of the houses that remain on the market to do so as well. This is especially true for re-sale homes as people will be wanting to sell in order to move. The prices of new homes, however, will remain more stagnant. The median sales price, though, has been right in between that of neighboring cities, and is pretty low for such a nice and highly developed area. Even though this city is fairly developed, the crime rate is very low, especially in the violent category, which only affects 1.53% of the population.
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