NASHVILLE, Tenn. (WKRN) — It’s really no surprise. Nashville, once again, has one of the hottest housing markets.
Real estate company RE/MAX on Thursday released their latest National Housing Report.
The new data shows four key points:
- Greater Nashville is one of the hottest housing markets in the U.S., with homes selling at an average of 22 days, one of the lowest averages in the U.S.
- Greater Nashville home prices are up 8.2 percent over last year.
- City of Nashville home prices are at their highest level in 2 years.
- The current median home price in the City of Nashville is $377,750 — up 7.9% over last year.
“Our market right now is so bizarre,” Chris Grimes, said, principal broker at RE/MAX Homes and Estates Lipman Group. “Inventory is already low, demand is high and interest rates are low, which makes demand go even higher than normal.”
He says it’s important to find yourself a good real estate agent and make sure you’re negotiating the best deal because houses are going fast and prices continue to rise.
News 2 is reporting on Nashville’s historic growth and the growing pains that come with it. Click here for more Nashville 2020 reports.