A trend of tight inventory, rising prices, and increased sales across Tennessee continued in April 2021 compared with the same month in 2020, according to data compiled by Tennessee REALTORS® via REALTORS® Property Resource (RPR). Active listings (inventory) of single-family homes* dropped -56.5% to 29,973, the median sale price rose +14.4% to $284,900, total sales volume leapt +60.1% to $3.35 billion, and the number of total sales rose +34.4% to 9,569.
Among the highlights in April 2021:
Median Home Sale Price
April 2020: $249,000
April 2021: $284,900
+14.4%
Median Sale Price per Sq. Ft.:
April 2020: $130
April 2021: $149
+14.6%
Closed Home Sales
April 2020: 7,122
April 2021: 9,569
+34.4%
Closed Sales Volume
April 2020: $2.09 billion
April 2021: $3.35 billion
+60.1%
Active Listings
April 2020: 68,892
April 2021: 29,973
-56.5%
New Listings
April 2020: 10,717
April 2021: 11,761
+9.7%
*The trends were similar for condominium sales in April 2021.
