Nashville Luxury Homes for Sale - May 2015

Nashville Luxury Homes for Sale - May 2015

Nashville luxury homes for sale and May 2015 market report - 36 Nashville luxury homes sold during the month of April 2015, compared to 29 during April of 2014, an increase of 24%. The average sales price of Nashville million dollar homes was $1,459,884, and the average size of homes sold was 6196 square feet

• the list price to sales price ratio of sold Nashville luxury homes was 95%
• the average days on market for sold homes was 116 days
• 419 Nashville luxury homes are listed in the Nashville MLS
• 59 Nashville million dollar homes are currently pending sale
• The absorption rate for Nashville million dollar homes based on April sales and current inventory is down to 11 months, and based on pending sales, I expect to improve throughout the spring and summer.

The breakdown for neighborhoods with Nashville million dollar homes that sold in March are

• Annandale
• Avalon
• Bancroft
• Beech Tree
• Belle Meade
• Belmont
• Brentwood
• Forest Hills
• Franklin Equestrian
• Franklin Historic
• Governors Club
• Green Hills
• Hampton Reserve
• Laurelbrooke
• Germantown
• Magnolia Vale
• Mcgavock Farms
• Oak Hill
• Princeton Hills
• Stockett Creek
• The Grove
• Treemont
• Tyne Meade
• West Meade
• Westhaven
• Windstone

The best luxury homes in the million dollar and over price range are now getting a lot of activity and it looks like this will be the best year for luxury home builders in many years. Due to the availability of lots, we can expect the trend of mostly Brentwood and Franklin luxury homes will dominate new construction. However in some area of west Nashville in Belle Meade, Green Hills, Forest Hills, Oak Hill, and 12 South, and now even Germantown, old homes are being replaced by new luxury homes, and we can expect that trend to continue as the demand increases.



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