Base Nashville Real Estate Market Stats

January 2021

Can we all agree that February is the official beginning of 2021? I feel like the holiday fog has finally lifted and the real estate market is ON FIRE!

In our combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights there were only 16 closings for the month.  This is down from 37 in the month of December and is indicative of our EXTREMELY limited inventory (homes available for purchase)

The median list price per foot checked in at 243/ft and the median sales price per foot was 234/ft. Average sales price to list price ratio was 97.34%

Our average sales price dipped a bit from the previous month to 394K       ( this is not surprising due to the limited inventory – less sales, less numbers to average)

Interesting fact – when comparing January 2021 to January 2020 – there is a DECREASE of 85% in inventory and an increase of pending properties by 41%

I’ve been saying this for months, but IF YOU ARE CONSIDERING SELLING NOW is a fantastic time.  If you are a buyer in this market, the inventory is limited BUT INTEREST RATES ARE HISTORICALLY LOW!