Nashville Home Prices Drop 3% in September

[@EthanFlynn]

www.ethanflynn.com Let's talk! Book time here: calendly.com/ethanflynn/30min

[@nellybelly623]

The graveyard house would be the coolest on Halloween.

[@SirCarlosMusicBMI]

🌴🌴🌴👏👏You Definitely nailed it today 👏👏👏. Very interesting in regards to the Airbnb department. Oh and I think that December is the BEST time to buy a house, and giving the owners a chance to live in their home during Christmas 🎄. People love that! Thank you Ethan 👏👏👏 I’m always looking forward to watching your Saturday videos. Blessings from Paso Robles, California, Carlos

[@SirCarlosMusicBMI]

BTW, Don’t forget that you mentioned you would look into Mount Juliet. That’s a very interesting area. Prices seem to just keep going up 😮. Thank you, C Los

[@Seanpfree]

I have a sinking feeling that this is the calm before rates leave the stratosphere as prices go sideways or up. I suspect this is the last chance the remaining first-time homebuyers will have in the greater Nashville area

[@ChrisCox77]

Great video!

[@antoniokimble5286]

Question, why wasn't Hendersonville High School listed as a school for Sumner County? I'd be interested to know about the area more.

[@Pags222]

It would be interesting to see if the properties that caused the closing bump (red line) were sold below, at or above list price. I'm curious if people are seeing new low prices and panic buying with the mindset that they have to pay at or above list or risk missing out on the "deal."

[@EthanFlynn]

That’s an interesting question. In general the median price house will sell for 3% lower than the median list price. What makes September odd is that if you look at the median list price, it’s much lower than the median contract price. Meaning either higher priced homes actually fell out of contract, or we have a bunch of higher prices about to close.

[@Pags222]

@@EthanFlynn I imagine it would be hard to prove the question I've posed without digging into individual closings but I may take a peek at the more egregious examples out of curiosity. On a different note, I'm seeing homes in the Bellevue section of town go in and out of "under contract" status but reappear a week later. I find it hard to believe these are dropping out as a result of the inspection. Is this another way to drive false demand via "ghost closing" a house by putting it into and out of the under contract status. There are two homes in particular that have already tried the relist at a higher price trick.

[@misterringer]

They revise that data so much that it's hard to really know what to believe. They will continue to cut rates in my opinion, eventually driving down mortgage rates, but it's going to be chop city for awhile with all of this data revision and nobody really being able to confidently say where the economy in general is heading. And I agree, always buy based on price, not rate.

[@EthanFlynn]

We will know in two years 😂

[@misterringer]

I think the highschool data is interesting for sure. I imagine that's driven by the inbound migrators coming in with large amounts of cash and wanting their kids in the best schools.