NEIGHBORHOOD MARKET UPDATE
February 2026 Real Estate Report
McFerrin Park | Cleveland Park | Highland Heights
February’s data is in for our three neighborhoods — McFerrin Park, Cleveland Park, and Highland Heights — and it tells a nuanced story. Headline numbers show year-over-year softening, but a closer read reveals a market that’s stabilizing, not collapsing. Here’s what the numbers actually mean for buyers and sellers right now.
February 2026 At a Glance
|
Metric |
Feb 2025 |
Feb 2026 |
Change |
Direction |
|
Average Sale Price |
$677,556 |
$626,144 |
-8% |
↓ |
|
Median Sale Price |
$599,500 |
$600,000 |
Flat |
→ |
|
New Listings |
45 |
25 |
-44% |
↓ |
|
New Under Contract |
16 |
6 |
-63% |
↓ |
|
Closings |
9 |
9 |
0% |
→ |
|
Avg Days on Market |
32 |
40 |
+25% |
↑ |
|
Active Inventory (Avg) |
60 |
57 |
-5% |
↓ |
|
Months of Supply |
7.68 |
6.99 |
-9% |
↓ |
|
Avg List Price (Active) |
$747,036 |
$749,093 |
Flat |
→ |
The Price Story: Average vs. Median
The average sale price came in at $626,144 — an 8% decline from February 2025’s $677,556. That sounds significant, but context matters. The median sale price held essentially flat at $600,000, barely moved from $599,500 a year ago.
When the average falls but the median holds, it typically signals that a handful of higher-end or distressed transactions are pulling the average down — not that the broad market is declining.
For most buyers and sellers operating in the $550K–$650K range, this market is behaving consistently. Pricing strategy matters more than ever, but the foundation is solid.
Supply Is Tightening — Just Not Evenly
New listings dropped 44% year over year — only 25 homes came to market compared to 45 in February 2025. That’s a significant contraction in fresh inventory, and it directly impacts what buyers can choose from.
At the same time, months of supply fell to 6.99 from 7.68 last year — a 9% improvement. We’re still technically in buyer-favorable territory (above 6 months), but the trend is moving toward balance. If new listings continue to lag, we could see conditions shift meaningfully by mid-summer.
What’s driving this? Sellers are hesitant. With active list prices holding near $749,000 and current sale prices running lower, many potential sellers are choosing to wait rather than compromise on price.
Buyers Are Taking More Time — And That’s Rational
Average days on market increased from 32 to 40 — a 25% jump. New contracts fell from 16 to just 6. Buyers are being deliberate, doing their homework, and not rushing into decisions.
This creates real leverage for prepared buyers. Homes are available, sellers are engaged, and there’s room for negotiation that simply didn’t exist 18–24 months ago. The window won’t stay open indefinitely, but right now, patient buyers are in a strong position.
What This Means If You’re Selling
Pricing accuracy is everything in this environment. Active list prices are averaging $749,093 — but homes are closing around $626,000. That gap represents overpriced inventory sitting on the market.
Sellers who price strategically from day one are still closing deals. Homes that are well-prepared, accurately priced, and properly marketed are moving. The market isn’t broken — it’s just less forgiving of wishful pricing than it was two years ago.
Key considerations for sellers:
- Price to current comps, not 2023 or 2024 peak values
- Preparation and presentation matter more when buyers have options
- Work with an agent who understands these specific streets, not just broad Nashville trends
What This Means If You’re Buying
February 2026 represents one of the better buyer environments we’ve seen in several years in these neighborhoods. Inventory exists, competition is reduced, and sellers are negotiating.
With 6.99 months of supply and homes averaging 40 days before going under contract, you have time to be thoughtful. You don’t have to waive inspections or bid 15% over asking. But that won’t last forever.
Key considerations for buyers:
- Get pre-approved and ready to move when the right home appears
- Understand the difference between average and median pricing — you may find more value than headlines suggest
- Neighborhood-level data matters — these three communities behave differently than the broader Nashville market
The Bottom Line
February 2026 is a market that rewards preparation and local knowledge. Supply is tightening, prices at the median are stable, and buyers who have been on the sidelines have a real opportunity right now.
If you’re curious what your home is worth in this environment — or where the best opportunities are as a buyer — I’m right here in the neighborhood and happy to walk through the numbers with you.
Data source: Realtracs, Inc. Single-family residential, MPCPHH. February 2026.
