Nashville Housing Market- What Happened In August? Nashville Real Estate News August!

Nashville Housing Market- What Happened In August? Nashville Real Estate News August!

in today’s video we’re talking about the
Nashville housing market if you’ve been listening to whispers in the Nashville
real estate news you may be getting concerned about downturns in the market
softening markets and what’s about to happen and even if you’re not in
Nashville the things I’m about to tell you and the stats you need to take a
look at will help you in determining what’s happening possibly in your market welcome back
I’m Susan Thetford with parks properties licensed realtor here in the Nashville
community for over 36 years and a native Nashville ioan if you’re new to my
channel I invite you to subscribe mash that bell so you don’t miss a thing I do
a new video every single week and we talk about all things Nashville
Nashville real estate and the local community information of the area that I
love so much what I love to do is help simplify what can be a very complicated
process when buying or selling or investing in real estate and if you
stick around to the end I’m gonna show you the most expensive and the music
cents and properties that have sold in the Nashville community in the month of
August I know you want to stick around for that
so our Nashville market has been really hot for gosh several years and I’m sure
your own local community has really seen some increases in value but what’s about
to happen what’s around the corner are you hearing rumors of a softening
market maybe the next looming recession well the only way you can actually know
what’s happening is to look at true statistics and watch what’s happening in
your local area month over month with sales with closings with inventories
with days in the market my goal is to help Nashvillians
see what might be happening here and for you to then take this information to
your Realtor or your real estate adviser and ask them for the same type of
information in your area in August our median sales price in Nashville was
three hundred ten thousand now in comparison to July
that’s up about 14,000 that’s a lot that’s a good increase in one month
actually it’s not sustainable either but we have about a fourteen thousand dollar
increase in the medians home sale price from July to August the next variable
that’s really important to take a look at is the listing two sales price and in
Nashville Davidson County for the month of August the list to sales price was 97
percent that’s pretty awesome but that is a 1% drop from the prior
month meaning that there was a little bit more spread between the asking price
and the list price now taken in one month that really means nothing but if
that continues month over month over a month you’re seeing a trend and that’s
what we’re looking for trends the next really important thing I think to take a
look at is the number of days on the market how long did it take for a home
to actually go in the market and get an offer get a closing date and actually
fun how many days did that take that begins to tell us the trends in the
market still so in August the days in the market were 68 days the issue might
be that that is up 16 days from the month of July so the days and the
markets a little bit longer and the spread between the list of sales price
is a little bit wider set mean to market is softening taken is one month that
does not taken as a trend when you look back it could it just might now the
number of homes we had per sale was 3300 in the entire davidson county area that
is down 13% meaning we didn’t have that much inventory to choose from and still
the spread was a little wider does that mean that people are asking too much
money for their homes does that mean the markets getting a little weary maybe the
next variable to look at is the number of homes that closed in August in
comparison to July July was a really big month
in a typical kind of slow month because people are getting ready for schools and
taking last-minute vacations but our number of homes that were closed in
Davidson County in August was down eight a little over eight and a half percent
over the July high so what we have here is the sales price increased for the
ones that closed but the days in the market was quite a bit longer the list
of sales price widened a little bit so people had to do a little bit more
negotiation even though the inventory was very low I think it means our market
is getting very savvy maybe a little tired and waiting forth just that right
home and still still it is as always when you’re selling a home a price war
and a beauty pageant as I always say so what do all these statistics mean oh you
know you can get lost in all these numbers taken is one month they don’t
mean anything but when you look in comparison to the month before in prior
months as I’ve said or in last year in exactly the same time you begin to see
trends take this information to your real estate adviser in your hometown and
ask what is the median sales price and how did that compare to last month what
is the number of days in the market how does that compare to last month or last
year one thing to please take note and talk to your real estate adviser is this
I’m giving you an entire market of statistics the median income and the
entire market taken as a whole each price point has its own set of
statistics that really need to be looked at so for example in August the days in
the market here in Nashville was 68 taken as an entire market but if you
were in the million dollar home price point that’s getting closer to a buyers
market because it’s well over six months that means we’ve shifted over to a
buyers market in the end the really high priced properties outside of a very
tight tight little community real estates completely regional guys the
statistic looking at the regions looking at your
market taking all those things into account you can actually prognosis it
pretty well prognosis yes pretty well what’s about to happen
armed with some real numbers I hope you take these back to your advisor
now you’ve stick around this long I promised you before I’m going to show
you the most expensive home that’s sold in Nashville the most expensive
condominium that sold in Nashville and then the least expensive homes and
condominiums it sold in Nashville in the month of August I think you’ll find it
really fun to watch and who doesn’t like to be a little bit of a voyeur right?
the most expensive home to sell in Nashville in the month of August was
1901 edan Bridgeway this home was seven bedrooms six full baths two half baths
in sixty-eight hundred square feet it sold for a whopping three million two
hundred ninety five thousand dollars most economical home to sell in
Nashville in the month of August was 5 5 to 3 you Lena Drive this home had 720
square feet was two full bedrooms one full bath and it sold for a hundred
seventeen thousand dollars the most expensive condominium to sell was in the
city lights new development at 20 Rutledge Street this is still a
development under construction it was three bedrooms three full baths 1834
square feet and it sold for 1 million $25,000 and finally the most affordable
condominium it sold in August of 2019 was 500 Paragon Mills apartment in 16
it sold for $110,000 was one bedroom one full bath 648 square feet and that is
the highs and the lows of the Nashville August 2019 residential housing market I
hope you found this valuable if you’d like to know more about living in
Nashville what flight to actually live here I invite you to check out that
video right there and if you’d like to know some of my favorite neighborhoods
there you go that’s the one for you actually both is very helpful please
subscribe to my channel mash that button so you don’t miss the next video drop
next Thursday I look forward to seeing you again

10 thoughts on “Nashville Housing Market- What Happened In August? Nashville Real Estate News August!

  1. Great information Susan! Consumers need to hear what is going on in their local area from an expert like you!

  2. List to sales price of .97 shows that in most cases offers need to be reasonable and sellers need to list close to market price or they will miss potential buyers. Great stats.

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