Home Values in Nashville: Your Complete 2024 Guide

How to get a home value estimate

Want to know what your home is valued at in the Nashville market, but don’t know where to start? Whether you’re hoping to determine your net proceeds or set a list price that matches market value, there are several available tools to help you out.

Use an online home value estimator

The fastest and easiest way to get a rough estiatme of your home’s worth is through an  online home value estimator. These free and accessible tools work by gathering data from various sources, including county auditor records, tax assessor data, and recent MLS sales, to generate a ballpark estimate of a home’s value. HomeLight’s estimator sets itself apart by asking a few personalized questions about your property to provide a more tailored estimate. In just two minutes, you’ll receive a preliminary value to help kickstart your selling process.

Request a comparative market analysis

Online value estimators are a great place to start, but for a more in-depth evaluation of your Nashville home, you can request a comparative market analysis (CMA) from a local real estate agent.

A CMA compares your property to similar homes that have recently sold in your area. The report accounts for factors such as your home’s size, condition, and upgrades, along with location-based variables like proximity to schools and amenities. A typical CMA includes graphs, photos, and detailed market data to provide a thorough estimate. Many agents will offer a CMA for free, especially if you’re planning to list your home with them. Others might charge a small fee, but it is more than worth it to receive an unbiased and accurate figure for your home.

Get a pre-listing appraisal

While a comparative market analysis will provide a reliable estimate in most cases, some sellers may want to go a step further and consider a pre-listing appraisal before listing their home. This is particularly helpful if your property has unique features, is located in a rural area with few comparable sales, or sits on a large amount of land. A professional appraiser will physically evaluate your home and determine its market value based on similar properties and your home’s individual characteristics.

It’s worth nothing that appraisals aren’t free and generally cost between $450 and $550, though for complex properties, like custom-built homes or large estates, fees may climb even higher. Keep in mind that even if you get a pre-listing appraisal, the buyer’s lender will still require another one to confirm the loan amount if the buyer is financing the purchase.

How to increase the value of your Nashville home

Making a few strategic improvements to your Nashville home before listing can provide a significant return on investment, helping you attract more buyers and secure a higher sales price.

Curb appeal: A study by the National Association of Realtors found that 92% of realtors recommend working on curb appeal before putting a home on the market. Easy, low-budget projects like adding fresh mulch, planting flowers, pressure washing the driveway, hanging outdoor lights, and painting the front door can create a great first impression and boost your home’s appeal to buyers.

Strategic updates: In order to maximize your return on investment, you’ll want to tackle value-enhancing home improvements in key areas such as kitchens and bathrooms. Specifically, replacing fixtures such as handles, faucets, lighting, and appliances, as well as repainting the walls or replacing the flooring, are all key upgrades. According to Zonda’s 2024 Cost vs. Value Report, replacing the garage door offers the top return on investment, recouping 194% of the cost.

Necessary fixes: Addressing necessary repairs — especially to major systems like your roof, plumbing, electrical, and HVAC — can help you avoid unwelcome surprises during the home inspection. Taking care of these fixes ahead of time can smooth the selling process and reduce the likelihood of renegotiations. However, be sure to consult your real estate agent before taking on anything too costly or time-intensive.

Decluttering and depersonalizing: Decluttering and depersonalizing your home is another crucial step to help buyers actually envision themselves living in the space. One HomeLight survey revealed that decluttering can add $8,000 or more to your home’s sale price, making it well worth your while. To declutter, clear away excess items and furniture to make rooms appear more spacious. Depersonalizing involves removing anything blatantly personal — including family photos, collectibles, kids’ toys, or religious symbols — from plain sight.

Deep cleaning: Don’t underestimate the power of a deep clean, especially when it comes to boosting value. A HomeLight survey of top agents found that deep cleaning could increase your home’s price by $3,700 on average. Have your carpets steam-cleaned, scrub away dirt from grout, and wash windows to open up the space. Plus, seek out any pesky baseboards or vents that may be harboring dust. After all, buyers are more forgiving of minor imperfections when a house looks clean and spotless.

Home staging: Lastly, well-executed staging can show off your property in the best light and help buyers feel at home the minute they walk through the door. According to HomeLight’s most recent survey of top agents, professional home staging can help properties sell for up to 13% more than unstaged homes. In the survey, 67% of agents agreed that staging is beneficial to helping homes sell in the current market, while another 31% said that staging is actually “essential” for a sale.

Unlock Your Equity and Buy Before You Sell

Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency.

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How to buy before you sell in Nashville

For potential sellers who have just found their dream home in Nashville but need to sell their current property first, HomeLight’s Buy Before You Sell (BBYS) program may be the perfect solution.

Here’s how it works: if you are eligible, HomeLight can help you unlock a percentage of equity from your current home in as little as 24 hours so that you can make a competitive, non-contingent offer on a new property. With this process, you can buy your new home first and move in while HomeLight helps you sell your old one, eliminating the stress of multiple moves.

BBYS charges a flat fee of 2.4% of your home’s final sale price. If your home doesn’t sell within 90 days after you’ve closed on your new property, HomeLight will purchase the it directly and continue working with you to sell it. Once the home sells, any remaining profits will be passed on to you, after subtracting any costs HomeLight has incurred.

If you’re curious to learn more about HomeLight’s Buy Before You Sell, press play on the short video below:

How to find a top agent in Nashville

Finding a top real estate agent in your neighbhorhood is a key component in maximizing the sale price of your Nashville home. Using HomeLight’s free agent matching service, you can quickly get connected with up to three top agents in your area. HomeLight’s recommendations are based solely on an agent’s past performance, specialties, and local expertise, ensuring that you receive unbiased and reliable matches.

One metric to pay attention to when evaluating agents is their sale-to-list ratio. This number compares a home’s final purchase price to its original listing price, expressed as a percentage. A high sale-to-list ratio indicates that an agent consistently prices homes at market value and secures the best sale price for their clients.

It’s a wise idea to interview at least three real estate agents before settling on one to work with. Here are some sample questions you can pose during the interview:

By combining HomeLight’s agent match tool with strategic interview questions, you can quickly find a top-performing agent who will help you get the best possible results for your home sale.

Get a free preliminary home estimate today

Understanding local home values, and knowing how to evaluate your own, is key to making informed financial decisions about your Nashville property, whether you’re planning to sell soon or exploring options like a home equity loan. With HomeLight’s free home value estimator, you can get a tailored estimate of your home’s worth in just a couple of minutes, enabling you to kick off your selling journey on the right foot.

In addition, HomeLight can connect you with top real estate agents in your area who will help you sell your home for its highest price. Or, if you’re looking to buy a new house before selling your current one, you can unlock your equity with Buy Before You Sell. Whatever your end goal, staying up-to-date on market trends and leveraging these powerful tools will give you a competitive edge in maximizing the value of your Nashville home.

Header Image Source: (Mike Gattorna / Unsplash)