NASHVILLE, Tenn. (Mar. 7, 2025) – There were 2,132 home closings reported for the month of February, according to figures provided by Greater Nashville REALTORS®. This figure is down 5 percent from the 2,247 closings reported for the same period last year.
“While residential closings are down 3.6 percent, the 4 percent increase in land closings signals potential growth in new home inventory, which could help meet future housing demand,” said Collyn Wainwright, Greater Nashville REALTORS® President.
A comparison of sales by category for February is:
|
|
2024 |
2025 |
|
CLOSINGS |
2,247 |
2,132 |
|
Residential |
1,751 |
1,687 |
|
Condominium |
362 |
299 |
|
Multi-Family |
13 |
20 |
|
Farms/Land/Lots |
121 |
126 |
There were 2,488 sales pending at the end of February, compared to 2,566 pending sales at this time last year. The average number of days on the market for a single-family home was 57 days.
The median price for a residential single-family home was $489,900 and for a condominium it was $350,000. This compares with last year’s median residential and condominium prices of $478,870 and $339,990 respectively.
Inventory at the end of February was 10,966, up 22 percent from 8,967 in February 2024.
The current inventory of properties by category, compared to last year, is:
|
|
2024 |
2025 |
|
INVENTORY |
8,967 |
10,966 |
|
Residential |
5,887 |
7,225 |
|
Condominium |
1,326 |
1,958 |
|
Multi-Family |
81 |
100 |
|
Farms/Land/Lots |
1,673 |
1,683 |
"With 22 percent more inventory, sellers are gearing up for the spring market, providing buyers with greater choice and opportunity," Wainwright added. "Meanwhile, rising median prices for both residential homes and condos reinforce that Middle Tennessee remains a strong and appreciating market."
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.
