As Inventory Grows, Buyers Find More Options for Spring and Summer Season
NASHVILLE, Tenn. (Apr. 7, 2025) – Data for the month of March showed 2,831 home closings, according to figures provided by Greater Nashville Realtors. This figure indicates a 0.2percent decrease from the 2,837 closings reported for the same period last year.
Data for the first quarter of 2025 showed 6,868 closings, a 1.5percent decrease from the 6,970 closings during the first quarter of 2024.
“Buyer confidence is showing signs of improvement, with a sharp month-to-month increase in both closings and pending sales,” said Collyn Wainwright, Greater Nashville Realtors president. “Residential closings held steady year over year, while March brought a seasonal boost over February with a 32% increase in closings and a 15% rise in pending sales—encouraging more sellers to enter the market.”
A comparison of sales by category for March is:
Year
2024
2025
CLOSINGS
2,837
2,831
Residential
2,223
2,223
Condominium
430
445
Multi-Family
23
22
Farm/Land/Lots
161
141
A comparison of sales by category for the first quarter/year-to-date is:
Year
2024
2025
CLOSINGS
6,970
6,868
Residential
5,488
5,398
Condominium
1,042
1,027
Multi-Family
48
54
Farm/Land/Lots
392
389
There were 2,861 sales pending at the end of March, compared to 3,006 pending sales at this time last year. The average number of days on the market for a single-family home in March was 53 days.
The median price for a residential single-family home was $490,000 and for a condominium it was $347,500. This compares with last year’s median residential and condominium prices of $493,220 and $339,900 respectively.
There were 12,326 active listings reported for the month of March, according to figures provided by Greater Nashville Realtors. This figure indicates a 31 percent increase from the 9,404 active listings reported for the same period last year.
Currently, there are 5 months of available inventory in the Greater Nashville region.
The current inventory of properties by category, compared to last year, is:
Year
2024
2025
INVENTORY
9,404
12,326
Residential
6,228
8,249
Condominium
1,378
2,228
Multi-Family
92
112
Farm/Land/Lots
1,706
1,737
“With inventory up 31% compared to this time last year, combined with a slight decrease in interest rates and median sales prices, buyers are now better positioned to take advantage of more favorable conditions,” Wainwright added. “As more sellers list their homes, inventory is expanding, offering buyers more options as we head into the high season for home sales.”
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.