The Nashville real estate market continued its hot streak in March as recently released data fro the Greater Nashville Realtors revealed an 8.9% jump in home sales back in March.
First reported by the Nashville Business Journal, the Nashville area saw 3,420 closings last month, which is up from 3,141 closing in March of 2016.
Home prices last month also skyrocketed, increase by 11.6% from a median price of $245,000 last year to $273,500 this year. Condo prices also saw a similar gain, jumping by 9.9% year-over-year from $181,894 to $199,900.
As you might expect, homes for sale in Nashville are also selling much faster this year, with the average days on market dropping from 64 days in March of 2016 down to just 50 days last month.
And with home sales also up by 11.2% and 9.3% in January and February respectively, it’s been a very active start for the Nashville housing market in 2017 to say the least.