
Green Hills, one of Nashville’s most affluent and sought-after neighborhoods, continues to be a prime destination for luxury home buyers and investors. Known for its high-end shopping at The Mall at Green Hills, fine dining options, and proximity to downtown Nashville, Green Hills offers an ideal blend of suburban living with urban conveniences.
Despite a few signs of cooling off, such as lower home prices and inventory, the Green Hills real estate market remains competitive, with properties often selling at premium prices.
Key Metrics at a Glance:
Metric | September 2023 | September 2024 | Year-over-Year Change |
---|---|---|---|
New Listings | 60 | 38 | 37% Decrease |
New Under Contract | 30 | 29 | 3% Decrease |
Active Inventory (Avg) | 136 | 124 | 8% Decrease |
Under Contract Inventory (Avg) | 42 | 38 | 10% Decrease |
Total Inventory | 178 | 162 | 9% Decrease |
Closings | 29 | 27 | 7% Decrease |
Sale Price (Avg) | $1,797,510 | $1,478,671 | 18% Decrease |
Sale Price (Med) | $1,350,000 | $1,200,000 | 11% Decrease |
Avg DOM (Closed) | 33 | 41 | 26% Increase |
Avg List Price (Active) | $2,472,743 | $2,534,264 | 2% Increase |
List to Contract (Avg) | 72 | 76 | 6% Increase |
Contract to Closed (Avg) | 69 | 34 | 50% Decrease |
List to Closed (Avg) | 137 | 98 | 28% Decrease |
Months of Supply | 5.62 | 5.58 | 1% Decrease |
Takeaway Points:
- Days on Market: Homes in Green Hills are spending more time on the market, with a 26% increase in the average days on market (DOM).
- Active Inventory: Inventory levels have slightly decreased, but there is still a healthy supply of high-end homes in this luxury market.
- Pricing Trends: Both average and median sale prices have decreased compared to last year, indicating a potential softening of the market, which could present opportunities for buyers.
Narrative Summary:
Despite some year-over-year declines in sale prices and inventory, Green Hills remains one of the most desirable neighborhoods in Nashville. Known for its proximity to top schools, The Mall at Green Hills, and convenient access to downtown Nashville, this upscale neighborhood continues to draw homebuyers looking for luxury living. Although homes are staying on the market longer, the decreased prices may create opportunities for buyers to secure premium properties at a better value.
For more details about living in Green Hills, visit Green Hills – Visit Music City or Green Hills on Wikipedia.