Top Real Estate Agents in Nashville, Tennessee

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2023 Nashville, Tennessee Housing Market Summary

Nashville, Tennessee started 2023 with a total of 933 single-family homes on the market, with a median home price of $695,000 and an average price per square foot of $381. By the end of the year, inventory had increased to 1,055 homes on the market (+13%), with a median home price of $739,900 (+6%) and an average price per square foot of $398 (+4%).

At the start of 2023, the median days on market (DOM) was 70 days – by the end of the year, median DOM had remained the same at 70 days.

Nashville started the year with 46% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 47% of Nashville homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Nashville started 2023 as a strong seller’s market, with an MAI score of 51; by the end of the year, the MAI had dropped to 47 – a strong seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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