Below is the December 2015 Real Estate update for the Nashville market and surrounding counties. Note that in Davidson County, the median price of a home ROSE 25% over December 2014. That’s over 2% ($5,000) per month on average, based on the median price home. Now the increase is not as dramatic on other areas, and in fact DROPPED in Wilson and Williamson counties, but what happens in Nashville very quickly migrates out.
Many of you know my background is in Finance and Information Technology so I am a data guy. These stats DO tell us both current and trend conditions, so what does it mean if you are sitting on the fence to buying or selling. If you are selling, it is still a SELLERS market. Inventories continue to fall, good homes are becoming more scarce, in prices are rising, in some cases dramatically. That makes it a GREAT time to sell. If you are buying, EVERY MONTH YOU WAIT IS COSTING YOU MONEY! …especially if you are looking in Nashville. If the first three week of 2016 are any indication, we are starting off as hot or hotter than last year, especially here in Sumner county.
If you have any question about these statistics, or want to just chat about the market in general, give me or Sherry a call.