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iddle Tennessee's housing market is showing signs of loosening, with a notable increase in home sales and for-sale properties. According to the Greater Nashville Realtors' latest report, total sales rose by 1% in 2024, reaching 33,935 homes sold across the nine-county region. This growth indicates steady demand for housing in the area.
December saw a significant surge in closings, with 2,842 transactions - a 15% jump from the previous year's December numbers. This uptick suggests growing consumer confidence in Greater Nashville, even as other markets experience slower conditions.
While inventory remains a challenge, there are signs of progress. Active listings increased by 15% to 10,109 at the end of December, compared to 8,727 in December 2023. Although supply still lags behind demand, rising inventory and stable days on market create more opportunities for buyers heading into 2025.
Consistent price appreciation remains a hallmark of the Greater Nashville market, with the median sales price for single-family homes increasing from $460,000 to $500,000 by year's end. This reflects long-term strong equity growth, offering significant value for homeowners in the region.
As the market continues to evolve, navigating it requires expertise and guidance. A trusted Realtor can help understand market trends, seize opportunities, and make informed decisions that align with your goals.
