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December 2020 Market Update

Despite uncertain times in 2020, the Nashville Real Estate market thrived. Greater Nashville Realtors reported 4,252 closings for December, which is up 22% from 2019. Middle Tennessee saw 12,310 closings during the fourth quarter, which is an 18% increase from 2019.

We are reminded during these challenging times that homes are one of the most essential part of people’s lives. The average single-family home sat on the market for 26 days during the month of December. The median price for a residential single-family home was $345,000 and $245,000 for a condo. Inventory at the end of December was 5,722, drastically down from 9,365 in December of 2019. The low cost and high quality of living has brought many to the Nashville area.

Source: https://www.greaternashvillerealtors.org/news/2021/01/07/home-sales-release/despite-uncertain-times-2020-housing-market-thrived/

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