Median home sale prices in Nashville break another record
The cost of buying a home in Nashville continues to rise. The median home sale price jumped to $410,000, the highest recorded median sale price by RE/MAX, according to its latest National Housing Report.
The new record median price is $5,000 more than the previous all-time high from October 2021.
The median sale price is up 23.5% over the last year, despite home sales being down 5%.
“Demand is the same, if not even higher, with holiday dormant buyers eager to get something early in the year,” said Jeff Checko, director of relocation at The Ashton Group of RE/MAX Advantage.
In December, Nashville’s housing inventory hit a historic low, as there is just over a one-month supply of homes available on the market, according to the report.
Regardless, Nashville continues to hold its rank as the city with the fastest selling homes among the 51 U.S. metropolitan areas RE/MAX surveys. The average home in Nashville sells in 13 days.
Across the country, 2021 finished with nearly 10% more home sales than the previous record year of 2020.
