Green Hills Nashville Real Estate Market Update - Q1 2024

Green Hills Nashville Real Estate Market Update - Q1 2024
Nashville, TN / USA - (last modified May 6, 2024 at 6:00am )

 

Green Hills Nashville Real Estate Market Update - Q1 2024

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
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:

    • 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.

    • 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.

    • 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.

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