The Huffaker Group just had its best August ever, and the Nashville real estate market is very active. We have your complete market update today.
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The August numbers for the Nashville real estate market are in, and we’re excited to report that Nashville is in an active market right now.
Compared to August of 2016, closings increased 3.8%, which is almost a 4% increase in closed units. That is just a testament to how busy our market is.
Year to date, closings are up 5.2% year over year. A lot of people are moving into town for a number of different reasons, which is good news for the Nashville real estate market.
If you put your home on the market now, be ready to move in just 25 days.
There are 3,939 homes under contract right now, which is staggering. Homes are spending an average of 25 days on market. If you put your home on the market now, you should be ready to move in about 25 days. Usually that number is closer to 35 or 45 days on market, so things are moving quickly right now.
The median sales price increased by $32,000 for single-family homes. If you bought a home last year, then your equity has probably increased. In this market, you can build equity fairly quickly, which is very exciting.
The Huffaker Group had its best August ever this year. We had the opportunity to serve over 42 families, and we are so grateful for the chance to do that.
Since our market is moving so quickly these days, it’s especially important that you work with a professional real estate market when buying or selling a home. If you have any questions about navigating the current market, just give us a call or send us an email. We would be happy to help you!