Q3 2024 Real Estate Market Report for Sylvan Park, Sylvan Heights, The Nations, and Charlotte Pike, Nashville TN

Nashville, TN / USA – October 11, 2024 at 6:00am (last modified October 11, 2024 at 6:00am )

 

 

The 37209 zip code, which includes Sylvan Park, Sylvan Heights, The Nations, and Charlotte Pike, is a vibrant and growing area in Nashville. These neighborhoods offer a unique blend of historic charm, modern developments, and a tight-knit community atmosphere, making them attractive to both homebuyers and investors alike. From the walkable streets of Sylvan Park to the rapidly evolving, trendy environment of The Nations, the real estate market in these neighborhoods continues to evolve.

As we look at the Q3 2024 data, it’s clear that these neighborhoods remain competitive, though pricing trends show some fluctuations compared to the previous year.

Key Metrics at a Glance:

Metric September 2023 September 2024 Year-over-Year Change
New Listings 95 86 9% Decrease
New Under Contract 47 57 21% Increase
Active Inventory (Avg) 245 235 4% Decrease
Under Contract Inventory (Avg) 71 79 11% Increase
Total Inventory 316 314 1% Decrease
Closings 49 51 4% Increase
Sale Price (Avg) $708,230 $606,184 14% Decrease
Sale Price (Med) $695,000 $555,000 20% Decrease
Avg DOM (Closed) 24 20 17% Decrease
Avg List Price (Active) $876,035 $844,847 4% Decrease
List to Contract (Avg) 90 76 15% Decrease
Contract to Closed (Avg) 29 49 65% Increase
List to Closed (Avg) 76 112 48% Increase
Months of Supply 6.09 5.66 7% Decrease

Takeaway Points:

    • Days on Market: The average days on market (DOM) have decreased, indicating that homes are selling more quickly than they did a year ago.

    • Active Inventory: The slight decrease in active inventory, coupled with increased closings, reflects continued demand for homes in this area.

    • Pricing Trends: Both average and median sale prices have declined year-over-year, suggesting a cooling off in the market despite strong interest from buyers.

Narrative Summary:

Sylvan Park, Sylvan Heights, The Nations, and Charlotte Pike continue to be highly desirable neighborhoods in Nashville, each offering its own unique mix of historic charm and modern amenities. The Sylvan Park and Sylvan Heights areas, known for their tree-lined streets and community atmosphere, remain popular among families and professionals alike. Meanwhile, The Nations and Charlotte Pike, with their rapid development and trendy dining and retail spots, are drawing younger buyers and investors.

The Q3 2024 market data reflects strong demand in these neighborhoods, with fewer days on market and increased closings compared to last year. However, the drop in average and median sale prices suggests a slight softening in the market, providing potential opportunities for buyers.

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For more details about living in these neighborhoods visit Sylvan Park or The Nations.