East Nashville remains one of the city’s most dynamic and diverse neighborhoods. Known for its creative spirit, eclectic vibe, and close-knit community, this area continues to attract a variety of homebuyers. Popular destinations like Five Points, Shelby Park, and an ever-evolving lineup of restaurants, shops, and art galleries make East Nashville a highly sought-after area for both buyers and investors.
The Q3 2024 real estate market in East Nashville reflects some changes, with home prices dropping slightly while inventory remains healthy, suggesting that buyers may find more opportunities in the coming months.
| Metric | September 2023 | September 2024 | Year-over-Year Change |
|---|---|---|---|
| New Listings | 62 | 55 | 11% Decrease |
| New Under Contract | 30 | 35 | 17% Increase |
| Active Inventory (Avg) | 113 | 137 | 21% Increase |
| Under Contract Inventory (Avg) | 48 | 44 | 8% Decrease |
| Total Inventory | 161 | 181 | 12% Increase |
| Closings | 39 | 40 | 3% Increase |
| Sale Price (Avg) | $839,420 | $723,794 | 14% Decrease |
| Sale Price (Med) | $749,900 | $616,500 | 18% Decrease |
| Avg DOM (Closed) | 18 | 39 | 114% Increase |
| Avg List Price (Active) | $902,214 | $866,004 | 4% Decrease |
| List to Contract (Avg) | 36 | 52 | 44% Increase |
| Contract to Closed (Avg) | 30 | 32 | 9% Increase |
| List to Closed (Avg) | 62 | 92 | 48% Increase |
| Months of Supply | 3.66 | 4.27 | 16% Increase |
East Nashville continues to captivate homebuyers with its vibrant culture, historic homes, and creative energy. Despite the decrease in sale prices and longer times on the market, this area remains highly desirable, particularly for buyers looking for a dynamic neighborhood with a strong sense of community. The market cooling off slightly may offer new opportunities for those seeking to invest in the East Nashville area, especially as inventory levels increase and prices drop.
For more details about living in East Nashville, visit Visit East Nashville – Music City or Explore East Nashville – USA Today.