After three months of losing out to competing offers, first-time home buyers Alan and Lindsey Laseter finally have a house under contract in Nashville's Woodbine neighborhood.
"We've been equating it basically to a rollercoaster," Lindsey Laseter said. "It's a big decision, so you want to make sure you're making the right choice. It’s difficult to be competitive with so many cash offers out there as well.”
Heightened demand in the fast-growing region, together with a limited inventory of affordable housing, has created an ultra-competitive environment that has pushed home prices higher than ever before. On Monday the Greater Nashville Association of Realtors released data showing that the region's median single-family home sale price reached $250,000, marking the second straight month that home prices reached a high water mark.
And with available properties often receiving multiple offers and being snapped up quickly, realtors are getting creative to give their clients the upper hand.