As 2021 began, Tennessee’s housing market continued to show high demand and tight availability. Residential home closings ticked up in January (+2.7%), the amount paid for all homes jumped (+21.9%), active listings/inventory dropped (-30.7%), new listings also fell (-14.2%), and the median sales price increased (+13.4%) year-over-year, according to data compiled by Tennessee REALTORS® via REALTORS® Property Resource (RPR).
Among the highlights:
Median Home Sale Price
January 2021: $259,784
January 2020: $229,000
+13.4%
Median Home Sale Price per Sq. Ft.
January 2021: $138
January 2020: $125
+10.4%
Average Home Sale Price
January 2020: $321,628
January 2019: $270,913
+18.7%
Closed Home Sales
January 2021: 6,851
January 2020: 6,674
+2.7%
Closed Home Sales Volume
January 2021: $2.2 billion
January 2020: $1.8 billion
+21.9%
Active Listings
January 2021: 30,138
January 2020: 43,495
-30.7%
Active Listings Volume
January 2021: $3.22 billion
January 2020: $3.42 billion
-5.5%
New Listings
January 2021: 9,231
January 2020: 10,755
-14.2%
See more details broken down by Grand Division (West, Middle, East)—along with past TN housing data—HERE.
*Condominium stats followed similar trendlines.
