Base Nashville Real Estate Market Stats
Hi neighbors, the numbers for last month are in for Cleveland Park, McFerrin Park, and Highland Heights. I keep up with these numbers so I can stay in touch with the neighborhood trends, and also, you can get an idea of a general sense of value. Many factors can influence a home’s value, but keeping an eye on the price points around you for homes that are similar to yours can help at least give you a range of your home’s worth.
In February 2023, a total of 12 properties closed, with a median list price per square foot of $357 and a median sales price per square foot
of $350. The median days on market for these properties was 14, while the median contract-to-close days was 32. We’re seeing these numbers relax a bit, especially compared to two years ago when a home would only stay on the market for 24 hours, if that. So it’s good to see the balance returning and buyers and sellers getting a fair shot.
The average SP/LP% (sales price to list price ratio) was 98.93%, indicating that properties sold very close to their asking price (asking price = 100%). There were 26 active properties and 30 pending properties during the month, suggesting a strong market demand.
The average sales price for February 2023 was $620,292, indicating a continued upward trend in the local real estate market. This is typical for the spring market – as the weather heats up, so does the real estate market.
Let me know if you’re curious about what your home is worth; I’d be happy to check that for you. ALSO, don’t forget the BaseNashville Community Yard Sale is coming up on Saturday, April 1st. Check out the BaseNashville Fb page for more details!