Jul 9, 2024 - Business

Nashville home sales dip in June

Nate Rau

Illustration of a downward trend line over a house — Illustration: Rebecca Zisser/Axios

Nashville-area home sales took a dive in June compared to last year but remained steady for the first half of 2024, according to new data.

The median price for a single-family home rose to $505,000 compared to $474,900 a year ago.

Why it matters: Nashville home sales remain below their pre-pandemic levels as potential buyers wait for interest rates to come down.

By the numbers: Overall sales fell by 13% in June compared to 2023, according to new data from the Greater Nashville Realtors.

Despite the poor month, overall sales are only slightly down, with 16,518 closings this year compared to 16,773 in 2023.
There were 11,255 active listings in June compared to 9,594 the same month last year.

What he's saying: "This decrease is attributed to robust property values in the region combined with the Fed's current monetary policy," Greater Nashville Realtors president Kevin Wilson said in a press release. "Notably, sales prices have risen by 6% year over year, which is a positive indicator of a healthy real estate market."

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Nashville home sales dip in June

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