Nashville’s Luxury Real Estate Market: February 2025 Report

The Nashville luxury real estate market continues to display resilience and steady growth as we move further into 2025. With balanced market conditions across both single-family and attached home segments, prospective buyers and sellers must stay informed about key trends shaping the landscape. This report provides a comprehensive breakdown of recent market performance, pricing trends, and overall sales activity.

Single-Family Luxury Homes

Market Overview

Nashville’s luxury single-family home market remains balanced, with a total sales ratio of 19% in January 2025. This figure suggests a stable environment where neither buyers nor sellers hold a decisive advantage. The luxury benchmark price for single-family homes stands at $900,000, reflecting the threshold set by The Institute for Luxury Home Marketing.

Key Market Metrics

• Total Inventory: 802 homes
• Total Sales: 151 homes
• Median Luxury Sales Price: $1,325,000
• Median Days on Market: 26 days (up from 16 in January 2024)
• Sale-to-List Price Ratio: 97.60%

The most active price range falls between $1,100,000 and $1,199,999, where homes are selling at the highest rate. Homes within this band are experiencing a sales ratio of 37%, indicating strong buyer demand.

Size and Pricing Trends

Larger homes, particularly those above 6,000 square feet, remain in lower demand, with a sales ratio of just 9%. Meanwhile, homes within the 3,000-3,999 square-foot range are moving more quickly, boasting a 30% sales ratio and a median sold price of $1,257,000.

Attached Luxury Homes

Market Overview

The attached luxury housing market, including condominiums and townhomes, also maintains a balanced market status, with a 13% sales ratio. The luxury benchmark price for attached homes is $500,000, marking the entry point into the city’s high-end property market.

Key Market Metrics

• Total Inventory: 349 homes
• Total Sales: 44 homes
• Median Luxury Sales Price: $689,950
• Median Days on Market: 53 days (up from 38 in January 2024)
• Sale-to-List Price Ratio: 97.81%

The most active price band for attached luxury properties is $900,000-$949,999, with a remarkable 56% sales ratio. This price range represents the sweet spot where demand is significantly outpacing other segments.

Size and Pricing Trends

Smaller attached units (below 1,500 square feet) tend to see less activity, while mid-sized units between 1,500-2,999 square feet exhibit stronger sales performance. Notably, the 2,500-2,999 square-foot range holds a 20% sales ratio and a median sale price of $945,000.

13-Month Market Trend Analysis

Examining market performance over the past year highlights a gradual increase in inventory levels for both single-family and attached homes. While median sales prices have experienced fluctuations, the overall trajectory remains upward.

For single-family homes:

• Inventory has grown from 740 units in January 2024 to 802 units in January 2025.
• Sales figures, however, have remained relatively stable at 151 units.
• The median sales price has increased from $1,300,000 to $1,325,000.

For attached homes:

• Inventory has surged from 250 units to 349 units.
• Sales have risen slightly, from 28 units to 44 units.
• The median sales price has grown from $645,000 to $690,000.

Key Takeaways for Buyers and Sellers

For Buyers:

• Despite a balanced market, competition remains strong in high-demand price ranges.
• Buyers should be prepared for tight inventory in the $1.1M-$1.2M range for single-family homes and $900K-$950K for attached properties.
• With median days on market increasing, negotiating leverage may be improving slightly.

For Sellers:

• Pricing strategically is key—properties priced within high-demand ranges are moving quickly.
• While sale-to-list price ratios remain strong, sellers should anticipate slightly longer market times.
• Luxury homes above 6,000 square feet may require additional marketing efforts due to slower turnover rates.

Conclusion

Nashville’s luxury real estate market continues to evolve, offering opportunities for both buyers and sellers. With stable prices, balanced market conditions, and steady inventory growth, the landscape remains promising for those looking to invest in high-end properties. As we move further into 2025, staying informed about these trends will be crucial in making well-informed real estate decisions.