Greater Nashville Produced Increased Activity and Values Despite Lower Pending Sales Contracted for April 2025

Greater Nashville Produced Increased Activity and Values Despite Lower Pending Sales Contracted for April 2025

Kenneth’s update 05072025… All key reporting segments increased M-T-M except for Pending Sales that did not produce as many contracts as anticipated. The inventory continues to expand with 13,249 available listings as of April 30, 2025, offering a larger selection for the Buyers pool in Middle Tennessee. Y-T-Y comparison produced lower production and values compared to April 2024, except for the much-needed increase in available inventory.

Mortgage rates ended the month slightly higher after beginning the month with a slight dip the first week of April 2025 and then spiked the second week with slight declines the following weeks of the month. The following chart, courtesy of Mortgage News Daily, demonstrates the month’s daily flow for the Average 30-Year Fixed Mortgage Rates for the period of April 1, 2025, through April 30, 2025. The chart provides an average 30-year fixed mortgage rates from several different surveys including Mortgage News Daily (daily index), Freddie Mac (weekly survey), Mortgage Bankers Association (weekly survey) and FHFA (monthly survey).

National economic policies and inconsistencies of economic goals appear to be influencing home buyers, though slightly, as demonstrated in the Pending Sales reported for the month of April 2025. Will confidence return to house hunters in real estate investments and generate more contracts in the month of May 2025? Should you jump into the real estate market as Spring moves forward? Increased inventory and minimum fluctuation of interest rates offer home buyers and home sellers incentives to participate in Middle Tennessee’s real estate market. Contact your trusted lender to evaluate your home buying power dollars, and your favored REALTOR®, to discuss the current conditions and take advantage of the home buying and selling process.

The Greater Nashville REALTORS® recently released a report for the month ending April 30, 2025, as follows: There were 2,963 closings; 2,743 pending sales; 13,249 inventory; 50 days on the market; and the median price for single-family dwellings of $500,000, and $350,000 for condominium classifications. The data collected for this release represents nine Middle Tennessee counties: Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson, and Wilson.

Pending home sales – Pending Home Sales is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. Pending contracts are good early indicators of upcoming sales closings. However, the amount of time between pending contracts and completed sales is not identical for all home sales.