Green Hills, Nashville, TN Real Estate Market Update – Q3 2024

Nashville, TN / USA – (last modified October 21, 2024 at 6:00am )


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.

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For more details about living in Green Hills, visit Green Hills – Visit Music City or Green Hills on Wikipedia.