12 South Nashville Real Estate Market report Q1 2024

12 South Nashville Real Estate Market Update - Q1 2024
Nashville, TN / USA - (last modified April 12, 2024 at 6:00am )

 

12 South Nashville Real Estate Market Update - Q1 2024

The vibrant 12 South Nashville neighborhood, with its stylish boutiques and cozy coffee shops, continues to be a sought-after location in Nashville. The first quarter of 2024 shows a real estate market that is adjusting to meet both new opportunities and challenges. Here's what the latest data tells us:

Key Metrics at a Glance:

Metric March 2023 March 2024 Year-over-Year Change
New Listings 40 31 23% Decrease
New Under Contract 22 19 14% Decrease
Active Inventory (Avg) 50 69 39% Increase
Under Contract Inventory (Avg) 23 24 5% Increase
Total Inventory 73 93 28% Increase
Closings 17 17 0% Change
Sale Price (Avg) $1,304,529 $1,683,588 29% Increase
Sale Price (Med) $1,240,000 $1,370,000 10% Increase
Avg DOM (Closed) 25 63 154% Increase
Avg List Price (Active) $1,456,288 $1,933,591 33% Increase
List to Contract (Avg) 72 56 23% Decrease
Contract to Closed (Avg) 42 33 22% Decrease
List to Closed (Avg) 91 135 49% Increase
Months of Supply 3.61 5.06 40% Increase

Days on Market: A sharp increase in the average days on market suggests a slower pace, providing buyers more time to make their decisions in this desirable area.

 

Total Inventory: The growth in inventory offers a wider selection for homebuyers, reflecting a healthy market in 12 South.

 

Pricing Trends: The significant rise in both average and median sale prices highlights the lasting appeal of the 12 South neighborhood's offerings.

 

The data from Q1 2024 underscores the dynamism of the 12 South real estate market, as it continues to draw interest with its unique combination of residential charm and urban convenience. For those seeking a neighborhood that embodies the spirit of Nashville, 12 South stands out as a toplocation for a vibrant Nashville life.

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