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February 2024

Market Stats » February 2024

February 2024

Market Update: McFerrin Park, Cleveland Park, and Highland Heights

Greetings to all our neighbors and future homeowners! In this month’s market update, we dive into the latest real estate trends and what they mean for you, whether you’re looking to buy, sell, or simply stay informed.

Key Metrics Overview:

  • New Listings: 25 properties hit the market, offering fresh opportunities for buyers searching for their dream home in our vibrant neighborhoods.
  • New Under Contract: 11 homes found their potential match, indicating active interest and a competitive environment.
  • Active Inventory (Avg): With an average of 49 homes available, the selection remains diverse, catering to various preferences and needs.
  • Under Contract Inventory (Avg): 27 homes are moving towards closing, showing a healthy pipeline of transactions.
  • Total Inventory: The total number of homes available or in process is 75, reflecting a dynamic market.
  • Closings: This month, 19 homeowners successfully passed their keys to new owners, marking their new beginnings.
  • Average Sale Price: At an average of $547,934, the sale price reflects the premium quality and desirable location of homes in our area.
  • Median Sale Price: The median sale price stands at $540,000, underscoring the steady demand.
  • Average Days on Market (DOM) Closed: Homes spent an average of 23 days on the market, highlighting quick sales and an active buyer interest.
  • Average List Price (Active): The current listings are priced at an average of $687,369, offering a range of options from cozy homes to luxurious estates.
  • List to Contract (Avg): On average, it took 76 days from listing to contract, indicating the time sellers can expect before receiving a solid offer.
  • Contract to Closed (Avg): The average time from contract to closing is 226 days, including the due diligence period and financing arrangements.
  • List to Closed (Avg): Overall, the journey from listing to closing averaged 278 days, encompassing all steps of the sales process.
  • Months of Supply: With 3.32 months of supply, the market is balanced, providing opportunities for both buyers and sellers to achieve their goals.

What This Means for You:

  • Sellers: The market remains favorable, with a solid average sale price and quick turnarounds. If you’re considering selling, now is a great time to list, with buyers actively searching for homes in our neighborhoods.
  • Buyers: With a steady influx of new listings and a reasonable months of supply, there are opportunities to find your perfect home. Be prepared for competition, and consider making your best offer upfront.
  • Residents: The thriving market reflects the desirability and growth of our communities. It’s an excellent time to invest in improvements or consider how changes in the market may impact your future plans.

Looking Ahead:

As we move through the season, we’ll keep an eye on trends and how they may affect our local real estate landscape. Whether you’re buying, selling, or simply love to stay informed, we’re here to provide you with insights and guidance every step of the way.

Stay tuned for next month’s update, and feel free to reach out with any questions or for personalized advice on your real estate journey. Together, let’s make the most of the opportunities in McFerrin Park, Cleveland Park, and Highland Heights.

Our Awesome Team

An incredible experience starts with incredible people, and BaseNashville is committed to bringing together the absolute best individuals possible to serve our clients and community.

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Nick Irwin

Nick Irwin - Broker - BaseNashville Real Estate

Nick Irwin, originally hailing from the warm and welcoming state of Alabama, has firmly established his roots and found his forever home in the vibrant heart of Nashville, Tennessee. As a leading Realtor at Parks Real Estate, Nick brings a unique blend of Southern charm and sharp business savvy to the dynamic real estate market of Music City.

With a strong background in business and an unbridled passion for real estate​ and financial education, Nick has become an indispensable guide for both buyers and sellers navigating the complexities of Nashville’s ever-evolving property landscape. His commitment to providing clients with the most current and comprehensive information empowers them to make well-informed decisions about their future homes and investments.

​Known for his relentless determination, ​Nick’s track record is a testament to his expertise and dedication to his client’s success. He defines success as making sure his clients have an advocate when making some of life’s biggest decisions and strives to help them feel empowered and informed along the way.

​O​utside of real estate, Nick enjoys quality time with his husband, Mark, at their cherished family lake property. These moments of relaxation often include the delightful company of their beloved chihuahua, Bruno.

Whether you’re searching for your dream home, an investment property, or looking to sell in Nashville’s dynamic market, Nick Irwin is your go-to real estate ​B​roker. His knowledge, enthusiasm, and genuine care for clients ensure a seamless and successful journey in the exciting world of Music City real estate.

Nick Irwin | 615-418-0563 | nick@BaseNashville.com

Robby Stone

Robby Stone - BaseNashville Real Estate

Born in Florida and raised in Huntsville, Alabama, Robby Stone has definitely found a home here in Tennessee. Since moving to Nashville in January 2010, he’s fallen in love with the subtle nuances present in each pocket of the city, and it is this affinity for the city and his passion for people that has led Robby to a career in real estate.

The road to becoming a real estate agent has been paved with an array of career adventures. Earning a degree in Sports Medicine from Samford University in Birmingham, AL before realizing the life of a doctor was not his ultimate passion, the following years would find Robby managing client relations for wedding photographer ABryanPhoto, acting in tv and film roles during his time spent in Los Angeles, entertaining as the front man for several dance bands traveling throughout the southeast and serving up delicious meals at a few restaurants around Nashville.

Forever wondering how all of these various jobs and educational experiences would work together toward his future, Robby now sees how each prepared him for his Realtor career which began in 2015. Managing the client experience, entertaining and effortlessly engaging those looking to buy or sell in Nashville, and humbly serving those he works for and alongside are all a part of real estate. With years of unconventional and professional career training and consistently over $10 million in sales annually, Robby has been refined to perform his job with ease and enthusiasm, and his natural charisma and authenticity are added bonuses to his career in this exciting industry.

Robby Stone | 205-383-7001 | robby@BaseNashville.com

Emilee Warner

Emilee Warner - BaseNashville Real Estate

Tennessee native Emilee Warner embarked on her real estate journey with a full-service brokerage based in Nashville in early 2020. Her debut year was marked by exceptional achievements, including being honored as Greater Nashville Realtors Rookie of the Year and consistently ranking among the top agents. Her dedication to excellence for her clients and earning the esteem of her colleagues has rapidly positioned her as a rising star in Nashville’s real estate scene. 

Prior to Real Estate, Emilee spent over 15 years in the entertainment industry, creating a large network of community members. Her experience in negotiation and client advocacy has seamlessly transitioned into her flourishing real estate career. 

As a passionate advocate for fair and affordable housing, Emilee actively contributes as a member of the Housing Affordability Committee. Her commitment to community service is evident through her volunteer work with the Country Music Hall of Fame’s Troubadour Society and LaunchPad Nashville. Additionally, she plays a significant role in local community development as a Board member of Discover Madison and Amqui Station. 

Emilee Warner | 615-418-4846‬ | emilee@BaseNashville.com

Robyn Nelson

Robyn Nelson - BaseNashville Real Estate

At the heart of BaseNashville’s dynamic team is Robyn Nelson, a Tennessee native whose expertise, enthusiasm, and quick wit radiate through every aspect of her work. As the team Operation & Transaction Coordinator, Robyn ensures each client’s journey is smooth every step of the way. 

Since joining the Nashville real estate universe in 2016, Robyn has become an indispensable asset, adeptly juggling a myriad of roles with unwavering dedication and efficiency. Prior to real estate, Robyn honed her organizational skills in hospitality and retail management, which helped keep the BaseNashville team on a steady course. Robyn is also an enthusiastic educator, sharing her wealth of knowledge through virtual contract-to-close classes where she helps train those interested in joining the real estate contract-to-close entrepreneurial world. Did we mention she’s also a TN Notary Public and wedding officiant? 

Outside of work, you can find Robyn fostering a community of literature lovers as she actively participates in several book clubs, with her downtime being spent with her two precocious children, devoted husband, and beloved dog.

Choosing a BaseNashville agent means gaining access to Robyn’s unparalleled expertise and warm guidance. Her ability to handle the complexities of real estate transactions with grace and precision makes her an invaluable member of our team and a cherished ally for our clients.

Robyn Nelson | 615-772-3680 | robyn@BaseNashville.com