End-of-Year Home Sale Numbers Signal Consumer Confidence
NASHVILLE, Tenn.(Jan. 7, 2025) – Final numbers for 2024 indicate there were 33,935 homes sold in the region, compared to the 33,429 closings in 2023. The total sales for 2024 were up 1 percent compared to 2023.
Home sales hit 2,842 closings for December, according to data provided by Greater Nashville Realtors. This figure is up 15 percent from the 2,463 closings reported for the same period last year.
Fourth-quarter closings were 8,250 for the Middle Tennessee area. That total is a 9 percent increase from the 7543 closings during the fourth quarter of 2023.
“The real estate market in Middle Tennessee continues to show resilience, as evidenced by the 1 percent increase in total sales for 2024,” said Collyn Wainwright, Greater Nashville Realtors 2025 President.
A comparison of sales by category for December is:
2023
2024
CLOSINGS
2,463
2,842
Residential
2,011
2,218
Condominium
302
433
Multi-Family
18
15
Farms/Land/Lots
132
176
A comparison of sales by category for the fourth quarter is:
2023
2024
CLOSINGS
7,543
8,250
Residential
5,985
6,583
Condominium
1,093
1,187
Multi-Family
42
48
Farms/Land/Lots
423
432
A comparison of sales by category year-to-date is:
2023
2024
CLOSINGS
33,429
33,935
Residential
26,348
26,911
Condominium
5,023
5,012
Multi-Family
172
210
Farms/Land/Lots
1,886
1,802
There were 1,593 sales pending at the end of December, compared with 1,704 pending sales at this time last year. The average number of days on the market for a single-family home was 50 days.
In December, the median price for a residential single-family home was $500,000 and for a condominium, it was $341,520. This compares with last year’s median residential and condominium prices of $470,000 and $340,000, respectively.
Inventory at the end of December was 10,109, up 15 percent from 8,727 in December 2023. Currently, there are 4 months of available inventory in the Greater Nashville region.
The current inventory of properties by category, compared to last year, is:
2023
2024
INVENTORY
8,727
10,109
Residential
5,921
6,803
Condominium
1,106
1,614
Multi-Family
78
82
Farms/Land/Lots
1,622
1,610
“A 15 percent rise in December closings signals increased consumer confidence, while increasing inventory levels and stable days on market offer more opportunities for buyers in the coming year,” Wainwright added.
For more information about Greater Nashville market data or to schedule an interview, please contact Blake Stewart at 615-513-9145.
About Us: Greater Nashville REALTORS® is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR® is a registered trademark that may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict code of ethics.
The data collected for this release represents nine Middle Tennessee counties: Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson and Wilson.