Nashville, TN home prices and housing market

Nashville sellers are asking about five hundred ninety-eight thousand dollars for homes typically worth four hundred ninety-seven thousand dollars, and buyers are making them wait for it. Here is what that gap means if you are thinking about selling this year. Start with the pace. The typical Nashville home is now taking about seventy-four days to sell, so nothing is moving fast. And buyers have plenty to look at. Roughly three thousand five hundred homes are on the market, with about a thousand more listed in just the past month. That supply is forcing sellers to adjust. Nearly 23 percent of active listings have already cut their price. Here is the turn. Even with all that cutting, the typical home value is only down about 1.6 percent over the past year. This is not a market in free fall. It is a market where sellers keep starting too high and then chasing the price down. The median asking price sits roughly a hundred thousand dollars above what a typical home is actually worth, and that gap is exactly why so many listings stall and then cut. So if you sell, price at the market on day one. In Nashville right now, an ambitious list price buys you seventy-four days of waiting and a reduction. To see what your home is worth in this market, get a free estimate at Home Value Pros dot com.