Nashville's hot housing market is nothing new - but some homes posted for sale online is giving a little perspective of just how high prices are soaring.
Online photos of the home at 606 26th Ave. North show broken windows, a collapsed roof and peeling paint. It was built in 1920 and sits on a .16 acre lot.
The three bedroom, two bathroom home is listed on Zillow for $499,000.
It's right nearby a home under contract that's going for $720,000. That one sits at 2607 Clifton Avenue and features three bedrooms and one bathroom on a fifth of an acre lot.
Zooming out from the homes may give a clearer picture to explain the skyrocketed home prices.
Both homes sit near a development of "tall and skinny" homes.
Zillow says for Metro Nashville, typical home values are $356,137, up 2.6% from July and 18.6% over last year.
A look at Nashville’s housing market
While Nashville's home prices are still on the rise - the city is also has the third-highest bidding war rate in the country.
That's according to a Redfin report published Monday. It found 74.6% of homeowners in the area faced a bidding war in July. When compared to July 2020, amid a surge in a nationwide pandemic, Nashville's bidding war rate was reported at 33%.
That's up slightly, just .6% from the June bidding war rate.
A summer surge in housing inventory has big cities breathing a sigh of relief but Nashville isn’t quite there yet.
Local home prices are up 15% compared to last year and inventory is down 61%, meaning there aren't enough homes to go around.
One expert says Nashville needs more people to list their homes.
Without more inventory buyers are having to change how they do business.
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