NASHVILLE, Tenn. (WTVF) — New numbers from the Greater Nashville Realtors show that October was a record-breaking month for home sales in Nashville, with home sales up more than 15% over last year.
In 2019, 3,742 homes, condos, multi-family units, and lots were sold, compared to 3,216 in 2018.
The biggest increase came in single-family homes, which also saw an increase in sale price.
According to the Greater Nashville Realtors, median home prices increased by more than $20,000 from October of 2018 to October of 2019, and Condo prices increased nearly $14,000.
One big reason for that could be the inventory. There were about 1,000 less homes on the market this October versus last October.
The average amount of days on the market increased from 29 days in 2018 to 32 days in 2019.
November is expected to be a successful month for the real estate business as well, with more than 3,000 pending sales at the end of October.