More Homes on the Market, But Buyers Still Struggle as Median First-Time Buyer Age Climbs
NASHVILLE, Tenn. (November 7, 2025) – Data for the month of October showed 2,886 home closings, according to figures provided by Greater Nashville REALTORS®. This figure indicates a 2percent increase from the 2,841 closings reported for the same period last year.
“Housing inventory has surged to level’s we haven’t seen in more than a decade,” said Collyn Wainwright, Greater Nashville REALTORS® President. “While sales activity remains steady and inventory is at one of its highest points since 2014, home prices show no sign of slowing.”
A comparison of sales by category for October is:
Year
2024
2025
CLOSINGS
2,841
2,886
Residential
2,308
2,294
Condominium
378
414
Multi-Family
18
26
Farm/Land/Lots
137
152
There were 2,276 sales pending at the end of October, compared to 2,300 pending sales at this time last year. The average number of days on the market for a single-family home in October was 58 days.
The median price for a residential single-family home was $515,000 and for a condominium it was $353,700. This compares with last year’s median residential and condominium prices of $490,000 and $335,988 respectively.
Inventory at the end of October was 14,282. This figure indicates a 19 percent increase from the 11,974 active listings reported for the same period last year.
Currently, there are 5 months of available inventory in the Greater Nashville region.
The current inventory of properties by category, compared to last year, is:
Year
2024
2025
INVENTORY
11,974
14,282
Residential
8,121
9,688
Condominium
1,900
2,448
Multi-Family
106
142
Farm/Land/Lots
1,847
2,004
“Even with the median home price climbing again to $515,000, rising inventory still isn’t translating into easier access for younger buyers,” added Wainwright. “The typical homebuyer is now 40 years old, and entering the market remains an uphill battle for many first-time purchasers. With affordability still a major challenge, the zoning bills recently considered by Metro Council are critical to ensuring more Nashvillians have the opportunity to build generational wealth.”