Q3 2024 Real Estate Market Report for Sylvan Park, Sylvan Heights, The Nations, and Charlotte Pike, Nashville TN
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 |
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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:
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- Days on Market: The average days on market (DOM) have decreased, indicating that homes are selling more quickly than they did a year ago.
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- Active Inventory: The slight decrease in active inventory, coupled with increased closings, reflects continued demand for homes in this area.
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- 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.
For more details about living in these neighborhoods visit Sylvan Park or The Nations.