Fewer homes selling for higher prices in Midstate

From The Nashville Ledger | May 8, 2020

Unit sales sagged 17% in April, Greater Nashville Realtors statistics show, while prices rose from a median of $306,975 in April 2019 to $330,000 for April 2020.

GNR President Kristy Hairston says homes continue to sell, “which is evident in the 3,050 pending sales for May.”

“When we move toward the new normal, all indicators point to a market rebound,” says Hairston, who by all accounts is performing remarkably well in trying times. Inventory is down more than 2,600 units versus last April, she adds, another factor in the sales numbers falling.

Greater Nashville Realtors numbers are composed of sales in Nashville and some neighboring counites. In Davidson County, the number of houses that went under contract rose from 332 two weeks ago to 353 last week. Three weeks ago, that number was 285.

Even with the city being under Mayor Cooper’s Safer at Home under, sales in Nashville have continued to grow as real estate was considered an essential business. As the city opens, real estate experts are seeing more listings entering a market with starved buyers.

Richard Courtney is a licensed real estate broker with Fridrich and Clark Realty, LLC and can be reached at [email protected].