Nashville average median home prices hit $314,900 mark

PHOTO: Guy Kilroy / CC BY 2.0 via MGN

NASHVILLE, Tenn.--The median price for a single-family home in Nashville has hit $314,900 according to data from the Greater Nashville Realtors.

Data collected for the month of June shows prices increased by just over $21,000 compared to June of 2017. The month also saw a 3.8% increase in closings for the month, increasing from 3,887 in June of 2017 to 4,036 this year.

GNR says homes are selling on average in 26 days and inventory continues to increase. The market has seen a 25% inventory increase for the month of June compared to last year. Last month saw over 11,000 homes for sale in the Nashville market.

It's not just homes seeing an uptick though. The report states condominiums jumped from an average price of $199,350 to $221,850 year-over-year.

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