NASHVILLE, Tenn. (December 6, 2024) – Data for the month of November showed 2,567 home closings, according to figures provided by Greater Nashville REALTORS®. This figure indicates a 7 percent increase from the 2,383 closings reported for the same period last year.
“November’s housing market paints a picture of steady growth and opportunity,” said Kevin Wilson, Greater Nashville Realtors president. “With pending sales up 13 percent compared to last year, buyers have more options while sellers continue to see strong median home prices at $500,000 for single-family homes.”
A comparison of sales by category for November is:
|
Year |
2023 |
2024 |
|
CLOSINGS |
2,383 |
2,567 |
|
Residential |
1,868 |
2,057 |
|
Condominium |
366 |
376 |
|
Multi-Family |
12 |
15 |
|
Farm/Land/Lots |
137 |
119 |
There were 2,145 sales pending at the end of November, compared to 1,896 pending sales at this time last year. The average number of days on the market for a single-family home in November was 49 days.
The median price for a residential single-family home was $500,000 and for a condominium it was $350,000. This compares with last year’s median residential and condominium prices of $470,495 and $348,510 respectively.
Inventory at the end of November was 11,375. This figure indicates a 13 percent increase from the 10,045 active listings reported for the same period last year.
Currently, there are 4 months of available inventory in the Greater Nashville region.
The current inventory of properties by category, compared to last year, is:
|
Year |
2023 |
2024 |
|
INVENTORY |
10,045 |
11,375 |
|
Residential |
6,829 |
7,631 |
|
Condominium |
1,295 |
1,827 |
|
Multi-Family |
91 |
102 |
|
Farm/Land/Lots |
1,830 |
1,815 |
“This is a market that balances choice with value – a promising sign for all in the Greater Nashville real estate market,” Wilson added.
About Us: Greater Nashville REALTORS® is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR® is a registered trademark that may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict code of ethics.
The data collected for this release represents nine Middle Tennessee counties: Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson and Wilson.
