Since January, we have seen a massive increase in traffic at open houses. Single-family open houses at homes in 12South, Richland, and Green Hills have seen 30-40 people come through in a two hour period on a Sunday. Wow! Development open houses such as those held weekly at West End Station in Sylvan Park also have had large groups with similar traffic numbers. These are great signs for Nashville’s real estate market. With a new President promising to take action, new year resolutions, and unbelievably low interest rates, those sitting on the sidelines trying to "time the bottom" have realized that now is the time to act.
The traffic at VillageRealEstate.com and NashvilleCityLiving.com both increased by THIRTY percent in January over December. December typically brings slower traffic because of the holidays, but January has seen some excruciatingly chilly temperatures, so you may not have expected people to be quite so preoccupied with real estate. And yet, 30% more people are flocking online to look at real estate options, learn about the current mortgage market, and find an agent to help them in their search.
And just for fun, here is another encouraging sign. We listed a historic Victorian home in the 12South neighborhood two weeks ago. It sold in one week.
Now really is the time to buy.