Nashville homes flying off the market at fastest pace in U.S. per RE/MAX
NASHVILLE, Tenn.--Nashville continues to hold the top rank when it comes to the fastest-selling homes in the United States.
According to RE/MAX, active housing inventory reached a historic low in November with only 5,056 listings available on the market. Average home prices in the city are just shy of $400,000 and Jeff Checko, Director of Relocation at RE/MAX Advantage says with such low inventory, buyers and sellers are taking unprecedented actions.
RELATED: Home builders organization expects home costs to continue rise in 2022
"People are doing things that are uncomfortable from a purchasing standpoint. They're waiving contingencies that are designed to protect buyers such as inspection and financing contingencies that are safeguards which in order to be competitive in this market, you're having to get rid of," Checko says.
Homes in Nashville are selling in 12 days on average, 40% faster than last year. Checko does not expect a slowdown for the holidays. "This year is no different. I would say it's even gone up another notch because there is so much pent of demand from people that went to the sidelines with frustration and failure during the prime buying months," Checko says.
Get reports like this and all the news of the day in Middle Tennessee delivered to your inbox each morning with the FOX 17 News Daily Newsletter.
