
The 12 South neighborhood in Nashville remains a highly desirable location, known for its blend of historic charm and modern living. With a vibrant food scene, boutique shopping, and the scenic Sevier Park, 12 South continues to attract both homebuyers and investors. This area provides easy access to downtown Nashville while retaining its unique community atmosphere, making it a favorite for those seeking urban convenience with a neighborhood feel.
As we review the Q3 2024 market data, it’s clear that the 12 South real estate market remains competitive, with notable increases in pricing trends and inventory.
Key Metrics at a Glance:
Metric | September 2023 | September 2024 | Year-over-Year Change |
---|---|---|---|
New Listings | 34 | 29 | 15% Decrease |
New Under Contract | 15 | 17 | 13% Increase |
Active Inventory (Avg) | 57 | 84 | 48% Increase |
Under Contract Inventory (Avg) | 22 | 25 | 17% Increase |
Total Inventory | 79 | 110 | 39% Increase |
Closings | 20 | 18 | 10% Decrease |
Sale Price (Avg) | $1,382,897 | $1,641,333 | 19% Increase |
Sale Price (Med) | $1,343,000 | $1,782,500 | 33% Increase |
Avg DOM (Closed) | 39 | 32 | 17% Decrease |
Avg List Price (Active) | $1,895,762 | $1,667,708 | 12% Decrease |
List to Contract (Avg) | 81 | 47 | 41% Decrease |
Contract to Closed (Avg) | 39 | 31 | 20% Decrease |
List to Closed (Avg) | 107 | 81 | 25% Decrease |
Months of Supply | 3.6 | 5.72 | 59% Increase |
Takeaway Points:
- Days on Market: A decrease in the average days on market (DOM) suggests that homes are selling more quickly than in the previous year.
- Active Inventory: A substantial increase in active inventory means more options for buyers, potentially easing competition.
- Pricing Trends: Significant increases in both average and median sale prices reflect the continued desirability of homes in 12 South.
Narrative Summary:
The 12 South area remains one of Nashville’s most desirable neighborhoods, attracting buyers with its combination of historic charm, vibrant commercial corridors, and proximity to downtown. The real estate market in 12 South shows strong growth in pricing, with a 19% increase in average sale price and a 33% jump in the median sale price. The availability of more inventory has likely contributed to slightly fewer days on market, indicating that while competition may be easing, demand remains high for well-priced homes in this community.
For more details about living in 12 South, visit 12 South Neighborhood or Nashville Go – 12 South.