The Gulch Real Estate Market Update – December 2023
Nashville, TN / USA – February 2, 2024 at 6:00am (last modified February 2, 2024 at 6:00am )
In December 2023, the real estate market in The Gulch, one of Nashville’s most dynamic neighborhoods, showcased its unique character. Known for its perfect blend of upscale living, vibrant nightlife, and trendy shopping, The Gulch is where the heart of Nashville beats. This area’s real estate market reflects its popularity and the lifestyle it offers.
Key Metrics at a Glance:
Metric | December 2023 | Month-over-Month Change | Year-over-Year Change |
---|---|---|---|
New Listings | 26 | 35% Increase | 32% Increase |
New Under Contract | 20 | 26% Increase | 0% Change |
Active Inventory (Avg) | 123 | 15% Increase | 46% Increase |
Under Contract Inventory (Avg) | 37 | 9% Increase | 37% Increase |
Total Inventory | 160 | 14% Increase | 44% Increase |
Closings | 33 | 22% Increase | 50% Increase |
Sale Price (Avg) | $1,803,249 | 17% Increase | 16% Increase |
Sale Price (Med) | $1,700,000 | 36% Increase | 27% Increase |
Avg DOM (Closed) | 43 Days | 75% Increase | 104% Increase |
Avg List Price (Active) | $2,478,944 | 5% Increase | 12% Increase |
List to Contract (Avg) | 92 Days | 5% Increase | 108% Increase |
Contract to Closed (Avg) | 47 Days | 6% Increase | 67% Increase |
List to Closed (Avg) | 147 Days | 53% Increase | 112% Increase |
Months of Supply | 4.57 | 28% Increase | 3% Increase |
Days on Market: The average days on market (DOM) for closed properties saw a significant increase, indicating a change in market dynamics.
Total Inventory: The total inventory in The Gulch area showed an increase, offering more options for potential buyers and signaling a shift towards a more buyer-friendly market.
Pricing Trends: The average sale price in The Gulch continued to rise, reflecting the area’s strong appeal in the Nashville real estate market.
As we move into the new year, these trends indicate a lively and evolving market in The Gulch, providing opportunities and insights for buyers, sellers, and investors alike. This unique neighborhood continues to attract attention, combining the best of Nashville’s urban living with a strong and resilient real estate market.