Nashville Market Cooling

omnirealty

August 2022

Greater Nashville Realtors reported that in July of this year there were 3,459 home closings, compared to 4,314 in July of last year. That is a staggering 19% decrease. GNR President Steve Jolly said, “While a nineteen percent volume decrease year-over-year seems like a huge number, last year was the hottest real estate market in Nashville’s history. Slowly transitioning to a more balanced market is healthy for Nashville and Middle Tennessee.” For a single-family home, the average number of days on the market was 28 days. The median price for a single-family home was $490,000, up from $415,075 last year. While volume has decreased, home prices are still on the rise, and this is good news for Nashville area home owners and investors. Nashville remains a very healthy market and Omni is more committed than ever to helping prospective investors navigate their options in the area. Can we assist you today? For more information on our real estate investment services, click HERE.