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A change in the Nashville housing market is leveling the playing field for buyers and sellers.
A new report from Zillow indicates that the number of houses sold at a price higher than the asking price in Nashville has fallen more than any of the 50 largest markets in the country. In 2017, 28.8% of homes sold were above the asking price, compared to 22.3% in 2018. In December, only 15.8% of homes were sold above asking price, the lowest percentage since 2015.
"Nine months ago, you could have raised the price of your home. Now, I do not know if you can really say that you are able to do it, "said agent Allyson Woosley of Park Realty.
Woosley says that more homes are on the market right now, so buyers have more choices.
"It all depends on supply and demand," Woosley said. "It's balanced, I do not think the buyer is totally in the driver's seat."
She also noticed that the average time spent by homes on the market has changed.
"Now they sometimes take 60 to 90 days when the 30-day period was higher than average a year ago," Woosley said.
Woosley said it was a necessary change in the housing market in Nashville.
"It's really better to have a balanced market. Even though we love these multiple offers, sellers love the ongoing clashes, but that just can not be maintained, "said Woosley.
The median amount paid by buyers over the asking price in the last year was $ 5,100 in Nashville, compared to the national median of $ 6,830.
Copyright 2019 WSMV (Meredith Corporation). All rights reserved.
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