The median price of a Nashville home has jumped to more than $1 million from $950,000 in January, according to an analysis by real estate analytics firm Trulia.
The median home price in Tennessee jumped 10.9 percent in January from the same month last year, Trulia said.
The increase was due to rising home values and the average price of the median home in the state rose 6.7 percent, to $6,854, from $5,858, in January.
The average price also increased 5.5 percent from $1,959, Trumans latest figures.
Tennessee home values were also up more than 12 percent from the prior month, Trumbull said.
“Home values are trending upward.
The national market has been strong and Tennessee has the highest home values in the country,” he said.
Nashville has had a lot of activity since the election, Truby said.
Home sales rose to their highest level in six months in January and are on pace to break records for the first time in five years.
The number of home sales rose more than 6 percent to 5,722, Truman said.
Trumbulos data shows that a majority of Nashville’s new home sales came in the first half of this year, up from 53 percent in the same period last year.
“I am optimistic about the economy,” Trumbula said.