NASHVILLE, Tenn. (Feb. 6, 2025) – There were 1,905 home closings reported for the month of January, according to figures provided by Greater Nashville REALTORS®. This figure is up 1 percent from the 1,886 closings reported for the same period last year.
“January data points to rising consumer confidence with increases in inventory, closings and median sales price,” said Collyn Wainwright, Greater Nashville Realtors president.
A comparison of sales by category for January is:
|
|
2024 |
2025 |
|
CLOSINGS |
1,886 |
1,905 |
|
Residential |
1,514 |
1,488 |
|
Condominium |
250 |
283 |
|
Multi-Family |
12 |
12 |
|
Farms/Land/Lots |
110 |
122 |
There were 2,185 sales pending at the end of January, compared to 1,898 pending sales at this time last year. The average number of days on the market for a single-family home was 56 days.
The median price for a residential single-family home was $490,000, and for a condominium it was $339,000. This compares with last year’s median residential and condominium prices of $460,000 and $349,360 respectively.
Inventory at the end of January was 10,821, up 22 percent from 8,875 in January 2024.
The current inventory of properties by category, compared to last year, is:
|
|
2024 |
2025 |
|
INVENTORY |
8,875 |
10,821 |
|
Residential |
5,955 |
7,163 |
|
Condominium |
1,224 |
1,847 |
|
Multi-Family |
79 |
92 |
|
Farms/Land/Lots |
1,617 |
1,719 |
“The 22% increase in inventory provides buyers with more choice and negotiating power, while a 15% increase in pending sales illustrate rising confidence in the 2025 market,” Wainwright added. “Sellers can remain confident in their investment as equity and median home sale prices continue to grow.”
For more information about Greater Nashville market data or to schedule an interview, please contact Blake Stewart at 615-513-9145.
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.
