We hit another YTD high in Inventory. In fact looking in Davidson (Nashville core), we are looking at multi-year highs in Active Listings.
At the same time that contract volume (count of listings under contract in the past 31 days) is in a deep winter low.
This makes for great opportunity to buy, but believe it or not the median price for a sold home in October will be up. Back to the summer high and could touch $480K.
This has had me questioning are home values actually going up?
Maybe the mix of high price counties and low price counties could give us a clue? It looks like in May, Davidson/Williamson/Wilson took 61% share of homes sold, and median price soared. When the share dropped in September median price dropped. But that doesn’t appear to be what’s happening in October.
Maybe New Builds are driving the increase? I’m going to say, No.