Gulch Nashville Real Estate Market Report Realto

The Gulch Real Estate Market Update - December 2023
Nashville, TN / USA - (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.

 

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