Quarter 2 - 2023 Report
Down, down down this quarter report.
All 9 metrics in our report (Medium SFR price, median condo price for Greater Nashville, Davidson and Williamson county) were down, down, down with the exception of only 1 metric: Q2 Median Condo price for Greater Nashville. Interesting data for sure considering quarter after quarter it was up, up up on every metric except inventory.
I do have condo buyers under contract right now who are purchasing their condo in Davidson County. What we found while on our home search for their dream condo was still high competition in the market, and property values also remained high especially for 37206 zip code.
All of us in the transaction were holding our breath waiting on the bank appraisal, and collectively breathed a sigh of relief when the appraisal came back confirming the list and offer price were accurate. Which is good news for condo market sellers.
All the other metrics SFR across Greater Nashville sees the medium price dipping by 2.4% and the condo median price dipping by 9.3% which indicates the cooling of an extreme sellers' market we've experienced the last few years. And great to see inventory up 30%. That's very good news for buyers in the market.