Nashville, TN Market Update – April 2025

The April 2025 data reveals continued signs of market balancing across Nashville’s single-family home market. Compared to this time last year, prices have softened slightly, inventory is higher, and buyers are taking longer to make decisions. These shifts offer new opportunities—and new strategies—for both buyers and sellers this spring.

Market Trends (April 2025 vs. April 2024):

• 🏡 New Listings: Down 15% (952 vs. 1,117) – fewer homes hit the market this April.

• 🛍️ Buyer Activity: New under contracts declined 14.9%, showing more cautious decision-making.

• 📦 Active Inventory: Up 18.4% year-over-year, giving buyers more negotiating power.

• 📉 Closings: Down nearly 10%, reflecting a slower pace of finalized sales.

• 💲 Pricing:

  • Average sale price dropped 6.8% to $834,888.

  • Median sale price declined modestly by 1.2% to $592,500, almost identical to April 2023 ($590,000) and April 2022 ($600,000)—showing that current prices are largely in line with long-term seasonal norms.

• 🕒 Time on Market: Average days on market climbed to 35 (from 27), and the list-to-contract period increased to 62 days.

• ⚡ Closing Speed: Once a contract is signed, homes are closing more quickly—33 days on average, compared to 51 last year.

• 📊 Months of Supply: Rose from 3.62 to 4.57, a 21% increase, further shifting the market toward balance.

What This Means for Buyers:

✅ More Choices, More Leverage: With inventory up and competition down, buyers can be more selective and negotiate more confidently.
🕵️‍♀️ Take Your Time, But Don’t Wait Too Long: Although homes are sitting longer, the spring market still favors well-priced properties.

What This Means for Sellers:

🎯 Strategic Pricing is Crucial: Today’s buyers are value-conscious and taking longer to commit. Overpricing will likely lead to extended days on market.
🏡 Presentation Matters More Than Ever: Staged, move-in-ready homes are the ones drawing strong offers—especially if priced below $600K, a psychological price ceiling we've seen hold steady for three years.
📈 The Good News? You can still close quickly once a buyer is secured.

📌 Remember: These numbers reflect a snapshot in time. Market conditions vary by neighborhood, price point, and property type. If you’re planning to buy or sell in 2025, let’s connect to talk through the right strategy for you.