January 2025 Real Estate Market Update
January 2025 Real Estate Market Update for Nashville & Franklin, TN
If you’re considering buying or selling real estate in the Nashville or Franklin, TN areas, staying informed on the latest market trends is crucial. January 2025 has shown some interesting shifts in the local real estate landscape, providing opportunities for both buyers and sellers. Let’s dive into the key stats and what they mean for you.
Key Market Trends in January 2025
1. Increased Inventory Levels
- Active Inventory: The average active inventory in January rose by 24% year-over-year, climbing to 7,937 homes.
- Months of Supply: Supply increased by 23%, reaching 5.34 months. This indicates a more balanced market compared to last year.
For buyers, this expanded inventory provides more options and less competition. Sellers, while facing more competition, can still capitalize on steady demand.
2. Modest Price Growth
- Average Sale Price: Up by 1% year-over-year, now at $615,311.
- Median Sale Price: Increased by 4%, reaching $453,620.
Sellers can benefit from rising prices, while buyers may need to strategize for slightly higher costs.
3. Faster Market Movement
- Average Days on Market (DOM): Homes closed in 37 days, down from 39 days last year, a 6% improvement.
A quicker market means buyers should act decisively, and sellers can anticipate shorter listing periods.
Opportunities for Buyers in Nashville and Franklin
With the boost in inventory and steady price growth, buyers have a prime opportunity to explore a range of homes across diverse price points. Neighborhoods in Williamson County and Davidson County offer a mix of luxury and affordable options. Work with a local real estate agent to navigate this more balanced market effectively.
Tips for Sellers
If you’re thinking about selling your home, now is still a good time. While there’s more competition, homes priced competitively are selling quickly. Focus on:
- Staging your home to attract buyers.
- Pricing your property in line with current market trends.
Why the Nashville and Franklin Markets Remain Strong
These areas continue to draw buyers due to their thriving job markets, excellent schools, and vibrant communities. The increased inventory levels are giving buyers more options without overwhelming the market.
What’s Next for Nashville & Franklin Real Estate?
As we move into 2025, the local real estate market is expected to remain dynamic. Buyers should prepare to act on favorable opportunities, while sellers can leverage the area’s consistent demand and rising prices.
For personalized advice on buying or selling in Nashville, Franklin, or surrounding areas, don’t hesitate to reach out to a trusted local real estate professional.
Looking for Your Next Home in Franklin or Nashville?
Connect the LCT Team today to start your journey. Whether you’re a first-time buyer or looking for your dream property, Middle Tennessee’s market offers endless opportunities to invest in a community you’ll love for years to come. (615) 595-5883 or visit LCTTeam.com.
