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.