Nashville homes sales dip

Nashville’s housing market bogged down last month after getting off to a hot start in 2024. 

There were 2,837 home closings in the Nashville area in March, marking a 7 percent year-over-year decline, the Nashville Post reported, citing a study by Greater Nashville Realtors.

The drop off follows a year-over-year increase of 3 percent in February, when 2,247 homes closed, and a 5 percent gain in January, which marked the first year-over-year increase in nine months.

For the first quarter of 2024, a total of 6,970 closings were reported, a 2 percent decrease from the first quarter of 2023, when the market saw 7,051 closings.

Despite the decrease in home sales, median prices for single-family homes and condominiums continued to rise last month. The median price for a single-family home stood at $493,220, compared to $465,000 in March 2023. Condominium prices rose from $327,885 to $339,900 over that stretch. 

Read more

Nashville

Home buying activity ramping up in Nashville

Nashville

Is Nashville’s multifamily market headed toward oversupply?

Nashville

Jenkins Properties pulling trigger on East Nashville assemblage 

Active listings surged to 9,404 in March, marking an 8 percent increase from a year ago. However, homes are taking longer to sell, with an average of 52 days on the market for single-family homes in March, compared to 40 days before a slowdown in December.

—Quinn Donoghue