East Nashville 2023 Real Estate Market Report Realtor

East Nashville Real Estate Market Update - December 2023

Nashville, TN / USA - (last modified February 9, 2024 at 6:00am )

In December 2023, East Nashville's real estate market mirrored the neighborhood's eclectic and vibrant character. Here's a breakdown of the key metrics and insights:

Key Metrics at a Glance:

Metric December 2023 Month-over-Month Change Year-over-Year Change
New Listings 35 5% Increase 44% Increase
New Under Contract 30 15% Increase 27% Increase
Active Inventory (Avg) 102 15% Increase 22% Increase
Under Contract Inventory (Avg) 31 9% Increase 11% Increase
Total Inventory 133 14% Increase 12% Increase
Closings 22 4% Increase 41% Increase
Sale Price (Avg) $725,133 4% Increase 2% Increase
Sale Price (Med) $717,500 2% Increase 4% Increase
Avg DOM (Closed) 45 Days 32% Increase 31% Increase
Avg List Price (Active) $829,122 3% Increase 6% Increase
List to Contract (Avg) 65 Days 12% Increase 35% Increase
Contract to Closed (Avg) 34 Days 1% Increase 24% Increase
List to Closed (Avg) 100 Days 7% Increase 36% Increase
Months of Supply 5.73 8% Increase 92% Increase

Days on Market Dynamics

The average days on market (DOM) for closed properties was 45 days, indicating a more relaxed market pace and potentially more room for negotiation for buyers.

Inventory Insights

The total inventory showed an increase, suggesting a market transitioning towards more balanced conditions, providing a broader selection for prospective buyers.

Price Trajectory

The average sale price in East Nashville continued its upward trend, reaching $725,133, highlighting the area's enduring appeal in the real estate market.

As we embrace the new year, these metrics reflect a dynamic and evolving market in East Nashville, offering unique opportunities for buyers and sellers alike in this eclectic neighborhood.

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