Middle Tenn Market Notes
- Average days on market is down by five, although still close to two months.
- Median home price has increased by $12,000.
- Median condo price has increased by $10,000.
- Residential inventory and closings both increased slightly from May to June.
- Supply for May and June has stayed steady at 4 months.
Sellers’ Market
Middle Tennessee is still a Sellers’ market, although it’s not as intense a Sellers’ market as we had in prior years (see Cooling a Hot Sellers Market). Homeowners may feel like they’re in a Buyers’ Market when they compare our current market to prior years. At the same time Buyers have choices, but not so many choices that they hold all the negotiating power.
Middle Tennessee’s Vastness
The nine counties of Middle Tennessee include Nashville (Davidson County), Franklin and Brentwood (Williamson County), Mt Juliet and Lebanon (Wilson County), Murfreesboro (Rutherford County), Hendersonville (Sumner County), Ashland City (Cheatham County), Springfield (Robertson County), Columbia (Maury County), and Charlotte (Dickson County). This area is extremely large and contains countless unique markets. So while my table is helpful for seeing larger trends, feel free to ask for a specific location’s market data!
