Base Nashville Real Estate Market Stats
Nick Irwin here with your report on the first full month of 2023. The real estate market in McFerrin Park, Cleveland Park, and Highland Heights in January 2023 saw a total of 4 properties closed for the month. This is not unusual for us in January in our neighborhood and in the industry as a whole.
The median list price per square foot was $276, and the median sales price per square foot was $271. These are great metrics when coming up with ballpark figures when pricing a home. Though don’t be fooled by the
quick napkin math; these are only a part of the process. Most importantly, when pricing a home, it’s good to have an agent that is familiar with your area.
The median days on the market was 6, which is great to know for the sellers out there; we are seeing that there are people wanting to move into these areas. The median contract-to-close days was 37, which is a fairly average amount of time for our area. The average sales price to list price ratio was 96.93%, indicating that the market is balancing to the ratios we saw in 2019.
The day we pulled this data, there were 33 active properties here in our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights and 23 pending properties. The average sales price was $612,250. We love to see it!
If you’re thinking about buying or selling in the spring, give me a shout asap so we can get ahead of the market.
See you next month!