Base Nashville Real Estate Market Stats

June 2022

Hello, Neighbors of McFerrin Park, Cleveland Park, and Highland Heights! Summer is in full swing, and I am here to share the real estate market statistics for June with you!

During the month of June, our neighborhoods saw 19 properties close, an increase over last month. Our median list price per square foot and median sales price are slightly decreased from last month. The median contract to close days crept up slightly to 31 days for June,

The average sales price to list price is 104%, meaning that properties are selling over the asking price on average. If you are shopping for a new home in the neighborhoods, there are currently 31 options to choose from (active properties); and 31 pending properties are set to close soon.

The average sales price last month was $601,553. In reviewing this information against the previous year’s same-month data, the total number of properties closed for the month is down 89%, which reflects our continued lack of inventory in the neighborhoods. Additionally, the average pending properties are down 74% compared to last year.

Cleveland Park, McFerrin Park, and Highland Heights are changing in Nashville. Unique properties are still selling with multiple offers, but it is not a time to speculatively price your properties. The interest rates have slowed some buyer activity and are moving into balanced market conditions. Home prices are not expected to decrease, but the competition will be less – creating favorable conditions for buyers.

If you are considering buying or selling, make sure to contact a qualified neighborhood Realtor – I am, of course, happy to help if you need anything!

– Nick Irwin, 615-418-0563, [email protected]