 Data: Redfin. Map: Axios Visuals Home sellers in Nashville outnumber buyers almost two to one, according to the latest estimates from Redfin. Why it matters: It's a buyer's market in real estate, if you can afford it. The swell of options on the market is a major reversal from just a few years ago, when homebuyers were desperate to find a place to live, sending prices into the stratosphere. The big picture: The trend is happening nationwide, but Nashville provides an even starker example of the shift. Middle Tennessee is one of the top buyers markets in the country, according to Redfin. By the numbers: There were 90% more sellers than buyers in the Nashville area in April, per the data. The national gap is around 34%. - The trend toward more sellers in the market is the strongest since Redfin started tracking the metric in 2013.
Flashback: Just two years ago, the dynamic was flipped, with buyers outnumbering sellers. Between the lines: A buyers market offers shoppers more options and leverage to negotiate on price. Indeed, nearly two-thirds of homes in the Nashville area sold under asking price in the first part of the year, per Redfin. Reality check: Buying a home is still far out of reach for many Nashvillians. A report released earlier this year found that buyers had to make $120,000 annually in order to afford the median-priced home in Middle Tennessee. - A one-two punch of still high home prices and high mortgage rates has made it hard for buyers, especially first-timers, to find a place they can afford.
- Add to that the extreme economic uncertainty of 2025, when tariff news, layoff fears and layoffs have tamped down buyer demand.
State of play: The median price for a single-family home in the Nashville area in April was $467,178, which is about even with the price a year ago, according to Redfin. The fine print: Redfin counted sellers as the number of active listings in a given area and created a model to estimate the number of buyers. Share this story ... Read the national story
|
