The latest real estate numbers in the Nashville area tell the same story as they have in recent months: Home sales are booming. It’s a trend that shows no sign of stopping soon, according to data from the Greater Nashville Association of Realtors, because the number of pending home sales set a record too.
More than 3,000 homes are considered pending, meaning they’re expected to close within a month or so. In previous years, the area didn’t have numbers like that until closer to the summer peak season.
Zach Lykins, who currently lives in downtown Nashville, is responsible for one of those pending sales. He’s been renting the past four years and is about to close on a house in East Nashville’s Cleveland Park. He was house shopping for about four months, and he says the market was quite competitive.
“There were a couple [of homes] I looked into that we just knew would be gone within the day if we didn’t put something in on it,” he says.
That competition has contributed to record prices. The median sale price last month hit $222,400 — higher than any month ever in the region.
The number of homes sold
in March also beat out recent years, but it’s still far from the numbers at the peak of the market before the recession.
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