Germantown Salemtown Buena vista nashville real estate

Germantown, Salemtown and Buena Vista Nashville Real Estate Market Update zip 37208- March 2024
Nashville, TN / USA - (last modified April 22, 2024 at 6:00am )

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:

    • A steady climb in average sale price indicates an appreciating market.

    • The significant 57% decrease in the list to closed average suggests a faster-moving market, with homes spending less time before sale.

    • 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.

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