www.LuxuryHomeMarketing.com NASHVILLE TENNESSEE Home of the CLHMS TM 2023 AUGUST
47 20 50 34 32 63 62 77 72 70 98 82 71 42 95 1 3 4 7 10 14 15 13 15 17 30 21 28 32 34 $5,500,000+ $4,700,000 - $5,499,999 $3,900,000 - $4,699,999 $3,300,000 - $3,899,999 $2,900,000 - $3,299,999 $2,500,000 - $2,899,999 $2,200,000 - $2,499,999 $1,900,000 - $2,199,999 $1,700,000 - $1,899,999 $1,500,000 - $1,699,999 $1,300,000 - $1,499,999 $1,200,000 - $1,299,999 $1,100,000 - $1,199,999 $1,000,000 - $1,099,999 $900,000 - $999,999 Inventory Sales Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 1,999 $1,100,000 3 3 11 39 28% 2,000 - 2,999 $1,060,000 4 3 47 178 26% 3,000 - 3,999 $1,199,000 4 4 79 224 35% 4,000 - 4,999 $1,699,950 4 5 58 187 31% 5,000 - 5,999 $2,250,000 5 6 25 114 22% 6,000+ $3,127,500 5 6 24 170 14% NASHVILLE SINGLE - FAMILY HOMES LUXURY INVENTORY VS. SALES | JULY 2023 Luxury Benchmark Price 1: $900,000 Seller's Market 915 Total Inventory: 244 Total Sales: 27% Total Sales Ratio2: 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
NASHVILLE SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4
TOTAL INVENTORY
653 915 Jul. 2022
2023
VARIANCE: 40 %
VARIANCE: 0 % $393 $392
MEDIAN DATA REVIEW | JULY
TOTAL SOLDS
220 244
VARIANCE: 11 %
SALE TO LIST PRICE RATIO
100.00% 98.80%
VARIANCE: - 1 %
SALES PRICE
VARIANCE: - 2 % $1.36m $1.33m
DAYS ON MARKET
VARIANCE: 150 % 4 10
NASHVILLE MARKET SUMMARY | JULY 2023
• The Nashville single-family luxury market is a Seller's Market with a 27% Sales Ratio.
• Homes sold for a median of 98.80% of list price in July 2023.
• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 76%
• The median luxury sales price for single-family homes is $1,325,000.
• The median days on market for July 2023 was 10 days, up from 4 in July 2022.
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
Solds Median Sales Price Inventory 653 626 662 705 699 578 575 585 626 726 847 879 915 220 210 222 207 177 160 132 138 225 192 290 275 244 $1,355,500 $1,246,500 $1,345,000 $1,220,000 $1,350,000 $1,350,000 $1,230,000 $1,312,500 $1,400,000 $1,325,000 $1,412,500 $1,399,555 $1,325,000 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23
Jul.
SALE PRICE PER SQFT. Jul. 2022 Jul. 2023 Jul. 2022 Jul. 2023 Jul. 2022 Jul. 2023 Jul. 2022 Jul. 2023 Jul. 2022 Jul. 2023
LUXURY INVENTORY VS. SALES | JULY 2023
48 8 5 6 4 10 13 16 20 19 21 19 15 19 16 3 1 1 0 5 3 2 3 6 7 19 12 13 11 7 $1,200,000+ $1,100,000 - $1,199,999 $1,000,000 - $1,099,999 $950,000 - $999,999 $900,000 - $949,999 $850,000 - $899,999 $800,000 - $849,999 $750,000 - $799,999 $700,000 - $749,999 $650,000 - $699,999 $600,000 - $649,999 $575,000 - $599,999 $550,000 - $574,999 $525,000 - $549,999 $500,000 - $524,999 Inventory Sales
Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 999 $616,000 2 2 6 42 14% 1,000 - 1,499 $604,900 2 2 43 70 61% 1,500 - 1,999 $607,000 3 3 15 58 26% 2,000 - 2,499 $604,500 3 3 24 42 57% 2,500 - 2,999 $605,000 3 3 5 16 31% 3,000+ NA NA NA 0 10 0%
NASHVILLE ATTACHED HOMES
Luxury Benchmark Price 1: $500,000 Seller's Market 239 Total Inventory: 93 Total Sales: 39% Total Sales Ratio2: 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
NASHVILLE ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4
MEDIAN DATA REVIEW | JULY
TOTAL INVENTORY TOTAL SOLDS
128 239
87 %
SALE PRICE PER SQFT.
60 % 58 93
Jul. 2022 Jul. 2023 Jul. 2022 Jul. 2023 Jul. 2022 Jul. 2023 Jul. 2022 Jul. 2023 Jul. 2022 Jul. 2023 Jul. 2022 Jul. 2023
100.00% 99.91%
SALE TO LIST PRICE RATIO VARIANCE: - 11 % $478 $425
DAYS ON MARKET VARIANCE: 0 %
• Homes sold for a median of 99.91% of list price in July 2023.
SALES PRICE VARIANCE: 0 % 3 3
• The most active price band is $900,000-$949,999, where the sales ratio is 125%
• The median luxury sales price for attached homes is $605,000.
128 117 116 130 121 101 116 128 169 192 202 216 239 58 60 53 47 29 102 32 34 63 46 64 73 93 $631,000 $660,000 $600,000 $727,000 $600,000 $999,000 $712,000 $622,975 $639,375 $662,500 $687,500 $662,500 $605,000 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Solds Sale Price Inventory
VARIANCE:
VARIANCE:
VARIANCE:
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
- 4 % $631k $605k NASHVILLE MARKET SUMMARY | JULY 2023
• The Nashville attached luxury market is a Seller's Market with a 39% Sales Ratio.
• The median days on market for July 2023 was 3 days, remaining the same from July 2022.
