Greater Nashville Realtors prides itself on being a go-to source for accurate and timely housing data for the general public and its 6,200+ plus members. Our Multiple Listing Service (MLS), Realtracs, is an incredible resource that provides comprehensive and accurate real estate inventory and sales data for Tennessee and beyond.
We use this software to track and distribute real-time housing indicators such as median sales price, available inventory, closings and more so that real estate professionals and the public can have a transparent look at key indicators that point to the overall health of the housing market on a hyper-local level.
Traditionally, when looking at home sales data, the association has compared to the previous year. This allows industry professionals and interested buyers and sellers to see what changes are happening over the course of a year.
While we will continue to report numbers in this way, we recognize that comparing housing data to the frenzied market we experienced the last few years is like comparing apples to oranges and doesn’t provide a full scope of the current market.
We’re essentially comparing the extraordinary to the ordinary. It’s just not a fair comparison to look at today’s market versus the anomaly of the post-Covid market that brought historically low-interest rates and pandemic-driven social changes that put home sellers in the driver’s seat – leading to bidding wars among buyers and sent prices soaring.
A more accurate comparison is to look at 2019 when the market was experiencing more normal conditions and a month-to-month comparison to get a real-time look at the market.
For these reasons, Greater Nashville Realtors leadership has made the decision to include 2019 data in our comparisons so that we can provide more context to current market conditions. Be on the lookout for our next home sale release coming on April 7 which will include these changes that I’m certain will provide homebuyers, sellers and real estate professionals a more in-depth overview of the Greater Nashville housing market.
Brad Copeland is President of Greater Nashville Realtors. A Realtor is a member of the National Association of Realtors who subscribes to its strict code of ethics. You can reach Brad at 615-809-4496 or becopeland@gmail.com.
