Nashville area home sales and prices dip year over year

Home sales continued to dip in the Nashville area last month, with closings falling 27% year over year.

By the numbers: There were 2,753 closings this April compared to 3,818 in April 2022, according to Greater Nashville Realtors data.

• There were 3,063 closings in March 2023.

Zoom in: Prices are also falling year over year, offering buyers a welcome reprieve after several skyrocketing months.

• The median price for a residential single-family home was $468,300 last month, with condos coming in at $326,000.
• In April 2022, homes came in at $480,000 and condos were $337,628.

Yes, but: The 2023 numbers are still significantly higher than pre-pandemic figures.

• In 2019, the median price for a single-family home was $306,970 and for a condominium, it was $229,900.

State of play: Nashville's housing inventory crunch has improved, with the supply in April jumping up 103% from last year.