Nashville homes getting snapped up faster than anywhere in the US, report finds

Nashville ranks first for the fastest-selling homes in the U.S., according to the latest RE/MAX National Housing report.

Homes in Nashville are selling in 10 days, the lowest average across the country. Last September, homes in Nashville were spending more than double the time on the market. 

Nationally, the typical time a house spent on the market in September was 25 days. That's 14 days less on average than in September 2020. 

The short shelf life of Nashville homes on the market however, doesn't translate to an increase in home sales. 

In Nashville, sales have gone down 10% over the last year, the report said. 

"Some sellers continue to overshoot the market, and as a result, their overpriced properties are seeing longer market times," said Jeff Checko, director of relocation at RE/MAX Advantage. "If all properties were priced in line with comparable sales, we'd have even fewer days on market."

The median home sale price in Nashville has risen nearly 20% in the last year, sitting at $395,000. The figure is nearly $65,000 above the median sale price of the 52 metro areas surveyed.

Article via Tennessean