May 6, 2024
Green Hills Nashville Real Estate Market Update – Q1 2024
Nashville, TN / USA – May 6, 2024 at 6:00am (last modified May 6, 2024 at 6:00am )
by John Sullivan, member of International Association of Press Photographers, and Photos by Create615.com
Green Hills, known for its upscale shopping venues, top-rated schools, and beautifully manicured neighborhoods, has seen a remarkable first quarter in 2024. The real estate market in this prestigious Nashville area has shown strong performance with noteworthy trends. Let’s examine the data from March 2024:
Key Metrics at a Glance:
Metric | March 2023 | March 2024 | Year-over-Year Change |
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New Listings | 36 | 46 | 28% Increase |
New Under Contract | 29 | 27 | 7% Decrease |
Active Inventory (Avg) | 52 | 55 | 5% Increase |
Under Contract Inventory (Avg) | 35 | 38 | 9% Increase |
Total Inventory | 87 | 93 | 7% Increase |
Closings | 30 | 29 | 3% Decrease |
Sale Price (Avg) | $401,010 | $437,030 | 9% Increase |
Sale Price (Med) | $360,000 | $399,000 | 11% Increase |
Avg DOM (Closed) | 20 | 31 | 57% Increase |
Avg List Price (Active) | $548,068 | $580,652 | 6% Increase |
List to Contract (Avg) | 39 | 30 | 23% Decrease |
Contract to Closed (Avg) | 31 | 34 | 9% Increase |
List to Closed (Avg) | 62 | 79 | 28% Increase |
Months of Supply | 2.56 | 2.61 | 2% Increase |
Takeaway Points:
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- Days on Market: The notable increase in the average days on market may signal a more balanced interaction between buyers and sellers, allowing for more deliberate decision-making.
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- Active Inventory: A slight uptick in active inventory gives buyers more options and could lead to a more competitive market for sellers in Green Hills.
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- Pricing Trends: With both average and median sale prices on the rise, the market is showing a healthy appreciation in property values, a positive sign for homeowners and investors.
As one of Nashville’s most desirable locations, Green Hills’ real estate market is demonstrating its resilience and attraction. The upward trend in sale prices is a testament to the area’s enduring appeal, as it continues to draw interest from both local and out-of-state buyers. The Green Hills market is poised for continued vitality as we advance into the year.