Average Days on Market (Dom) - It Has Been Extending

 

During the residential real estate drama of 2020 to 2022, we became accustomed to properties flying off the shelves in a day or 2. But over the last 12 months, sales have markedly tapered and the duration of the buying process has grown. Comparing 2023 Q1 with the first months of 2022, homes in Greater Nashville spend 35 days on the market vs 12 days in 2022. A better vantage point is to consider a longer time context for comparison. Greater Nashville REALTORS® data gives a historical DOM perspective back to 2008. What you'll notice is that the present 35-day average is reasonable and moderate. Buyers have time to be selective. Take a look at both graphs below.

 

 

 

 

Just in case You or Someone You Know is looking for:

 

• An urban-ish property in suburban Williamson County or
• Relocating to Middle TN or
• Considering a rental property investment

Check out this "better than new" townhome in beautiful Tollgate Village. Less than 2 years old. Numerous upgrades include crown molding, plantation shutters, and custom-designed walk-in closets. Hit popular Mojos Tacos this weekend and then stroll over to our Open house on Sunday April 30 from 2-4 pm. Click to see this listing, 2055 Tollgate Blvd.