Germantown, Salemtown and Buena Vista Nashville Real Estate Market Update zip 37208- March 2024
As spring dawns on Nashville, the real estate heartbeat of the 37208 area—which includes the historic Germantown, the charming Salemtown, and the up-and-coming Buena Vista—is palpable. The market this March tells a story of growth and buyer confidence. Here’s a deep dive into the latest figures:
Key Metrics at a Glance:
| Metric | March 2023 | March 2024 | Year-over-Year Change |
|---|---|---|---|
| New Listings | 52 | 60 | 15% Increase |
| New Under Contract | 16 | 28 | 75% Increase |
| Active Inventory (Avg) | 88 | 139 | 58% Increase |
| Under Contract Inventory (Avg) | 28 | 29 | 5% Increase |
| Total Inventory | 116 | 168 | 45% Increase |
| Closings | 18 | 16 | 11% Decrease |
| Sale Price (Avg) | $577,233 | $587,169 | 2% Increase |
| Sale Price (Med) | $569,500 | $599,900 | 5% Increase |
| Avg DOM (Closed) | 31 | 30 | 4% Decrease |
| Avg List Price (Active) | $677,921 | $690,357 | 2% Increase |
| List to Contract (Avg) | 43 | 55 | 27% Increase |
| Contract to Closed (Avg) | 31 | 28 | 12% Decrease |
| List to Closed (Avg) | 188 | 80 | 57% Decrease |
| Months of Supply | 5.88 | 10.02 | 71% Increase |
Highlights from the data:
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- A steady climb in average sale price indicates an appreciating market.
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- The significant 57% decrease in the list to closed average suggests a faster-moving market, with homes spending less time before sale.
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- The increase in months of supply points to a more balanced market, offering greater choices for buyers.
The current real estate landscape in the 37208 ZIP code mirrors the district’s own character: full of life, growth, and diversity. While the average days on market for closed properties have slightly decreased, the market’s inventory continues to grow, signaling a welcoming environment for newcomers. Amidst the historic facades and newly constructed residences, Germantown, Salemtown, and Buena Vista continue to offer homes that cater to a wide array of preferences and lifestyles, reinforcing their status as a desirable destination within Nashville’s urban core.
