Here is the scoop on the Nashville housing market for August. East Nashville ( area 6 on the MLS ) reported 69 homes closed with homes staying on the market an average of 71 days. The median home price was $104,900 largely due to amount of investors taking advantage of the historical low rates and buying investment properties in East Nashville.
In West Nashville ( area 2 on the MLS ) which comprises Bellevue, Green Hills, Historic Richland, West Meade, Bellemeade, 12th South, Sylvan Park, West End, Belmont, Charlotte Park and sections of downtown Nashville there were 94 homes that were reported closed with homes averaging 72 days on the market and the median sold home price being $293,500.
Antioch, Crieve Hall, Nippers Corner ( Area 1 on the MLS ) which also comprises Lenox Village, Berry Hill and the area Brentwood north of Concord Road such as the Villages of Brentwood had the best numbers. This area reported 104 homes closed with an average days on the market of 86 days. Note that this number is a little higher due to the number of short sales and foreclosures in this area. The median price of homes sold was $160,950.
Williamson County ( area 10 on the MLS ) which comprises Brentwood, Franklin, Thompson Station, Nolensville, Spring Hill,College Grove and Fairview reported 230 homes closed with an average days on the market of 93 days and median sold home price of $337,335.
The past few months of summer were a bit challenging for the real estate market in Nashville overall. What is to come in the next few months?
As the weather continues to become more fall like and kids get back to school the Nashville real estate market will pick up. I see this every fall. Interest rates are so low and may continue to get lower or remain historically low.
