
Brentwood, Tennessee, located just south of Nashville, continues to be one of the most sought-after suburban communities in the region. Known for its luxurious homes, top-rated schools, and sprawling parks, Brentwood attracts families and professionals seeking a blend of modern convenience and peaceful suburban living. With proximity to major business hubs and a reputation for high quality of life, Brentwood’s real estate market remains highly competitive.
The Q3 2024 market data shows a mixed picture for the Brentwood housing market, with strong price growth despite a slight drop in inventory and new listings.
Key Metrics at a Glance:
Metric | September 2023 | September 2024 | Year-over-Year Change |
---|---|---|---|
New Listings | 119 | 88 | 26% Decrease |
New Under Contract | 65 | 74 | 14% Increase |
Active Inventory (Avg) | 232 | 230 | 1% Decrease |
Under Contract Inventory (Avg) | 131 | 112 | 14% Decrease |
Total Inventory | 363 | 342 | 6% Decrease |
Closings | 52 | 45 | 13% Decrease |
Sale Price (Avg) | $1,474,678 | $1,795,981 | 22% Increase |
Sale Price (Med) | $1,060,000 | $1,485,000 | 40% Increase |
Avg DOM (Closed) | 30 | 38 | 28% Increase |
Avg List Price (Active) | $2,123,916 | $2,480,444 | 17% Increase |
List to Contract (Avg) | 83 | 60 | 28% Decrease |
Contract to Closed (Avg) | 60 | 67 | 12% Increase |
List to Closed (Avg) | 136 | 130 | 4% Decrease |
Months of Supply | 5.42 | 6.21 | 15% Increase |
Takeaway Points:
- Days on Market: Homes are taking longer to sell compared to last year, with a 28% increase in the average days on market (DOM).
- Active Inventory: Despite a slight dip in inventory levels, there is still a healthy supply of homes for buyers to choose from in Brentwood.
- Pricing Trends: Home prices in Brentwood have surged, with the average sale price rising by 22% and the median sale price increasing by 40%, highlighting continued demand for properties in this desirable area.
Narrative Summary:
Brentwood’s real estate market continues to show strong demand, with significant price appreciation despite a slight decrease in the number of new listings and closings. The 22% increase in the average sale price and the 40% jump in the median sale price demonstrate Brentwood’s enduring appeal to luxury buyers and families seeking high-end properties in a community known for its excellent schools, expansive parks, and proximity to Nashville.
For more information about living in Brentwood, visit Brentwood on Wikipedia or Visit Brentwood.