12 South Real Estate Market Update – December 2023
December 2023 in 12 South, a Nashville neighborhood celebrated for its quaint bungalows, artisanal shops, and locally-owned restaurants, mirrored the unique lifestyle it offers. The real estate market in this area reflected the strong community spirit and the harmonious blend of urban convenience with suburban charm.
Key Metrics at a Glance:
Metric | December 2023 | Month-over-Month Change | Year-over-Year Change |
---|---|---|---|
New Listings | 16 | 43% Increase | 60% Increase |
New Under Contract | 9 | 50% Increase | 13% Increase |
Active Inventory (Avg) | 67 | 6% Increase | 42% Increase |
Under Contract Inventory (Avg) | 18 | 32% Increase | 77% Increase |
Total Inventory | 85 | 13% Increase | 48% Increase |
Closings | 21 | 50% Increase | 200% Increase |
Sale Price (Avg) | $1,163,329 | 18% Increase | 16% Increase |
Sale Price (Med) | $1,056,000 | 4% Increase | 7% Increase |
Avg DOM (Closed) | 33 Days | 5% Increase | 4% Increase |
Avg List Price (Active) | $1,788,554 | 3% Increase | 1% Increase |
List to Contract (Avg) | 58 Days | 29% Increase | 23% Increase |
Contract to Closed (Avg) | 38 Days | 6% Increase | 36% Increase |
List to Closed (Avg) | 87 Days | 9% Increase | 12% Increase |
Months of Supply | 3.84 | 41% Increase | 52% Increase |
Days on Market Dynamics
The days on market for closed properties saw a modest increase, suggesting a balanced pace in the market, characteristic of the well-established 12 South neighborhood.
Inventory Insights
The total inventory saw a healthy increase, reflecting a vibrant market in 12 South, with buyers showing keen interest in this culturally rich and community-focused area.
Price Trajectory
The average sale price continued to rise, emphasizing the premium value of homes in this sought-after neighborhood, known for…the area’s blend of historic charm and modern amenities. 12 South continues to captivate both residents and investors, offering a unique lifestyle in the heart of Nashville.
The 12 South neighborhood, with its delightful mix of local boutiques, renowned eateries, and community-focused atmosphere, remains a top choice for those seeking a vibrant, yet cozy urban living experience in Nashville.