Nashville Sylvan Park, Sylvan Heights, The Nations and Charlotte Pike Real Estate Market Update – Q1 2024

Nashville, TN / USA – April 15, 2024 at 6:00am (last modified April 15, 2024 at 6:00am )

As Q1 2024 unfolds, the real estate market in Nashville’s 37209 area — embracing Sylvan Park, Sylvan Heights, The Nations, and Charlotte Park — exhibits a continued demand for its unique blend of community spirit and urban accessibility. Here’s a snapshot of the market dynamics for March 2024:

Key Metrics at a Glance:

Metric March 2023 March 2024 Year-over-Year Change
New Listings 98 91 7% Decrease
New Under Contract 72 68 6% Decrease
Active Inventory (Avg) 167 188 13% Increase
Under Contract Inventory (Avg) 72 81 13% Increase
Total Inventory 239 270 13% Increase
Closings 55 61 11% Increase
Sale Price (Avg) $715,005 $770,266 8% Increase
Sale Price (Med) $690,000 $685,000 1% Decrease
Avg DOM (Closed) 32 41 27% Increase
Avg List Price (Active) $833,052 $850,220 2% Increase
List to Contract (Avg) 120 49 59% Decrease
Contract to Closed (Avg) 37 30 19% Decrease
List to Closed (Avg) 103 118 15% Increase
Months of Supply 3.86 4.07 5% Increase

Days on Market: The average days on market for closed properties increased by 27%, indicating a more deliberate approach to sales in the area.

 

Total Inventory: A rise in total inventory by 13% year-over-year suggests a growing market, with more choices for potential homebuyers.

 

Pricing Trends: The average sale price shows an 8% increase despite a slight decrease in median sale prices, reflecting a market with diverse offerings that continue to attract a range of buyers.

 

The 37209 area continues to thrive, offering a mix of historic charm and new developments. With an increasing number of days on the market, buyers have the opportunity to make more considered choices, and the diverse inventory suggests a healthy market. As the neighborhoods evolve, so does the demand for homes in this quintessentially Nashville locale.

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