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.
