Real Estate Market Update – End of 2024

Denis S
Jan 10
2 min read

Updated: Feb 2

As we close out 2024, the real estate market in Davidson County, TN, reflects notable trends that shaped the year.

Here’s a summary of the key metrics compared to 2023:

Davidson County Market Highlights:

New Listings: Decreased by 8% YoY to 936, signaling limited new inventory.
Closings: Increased by 10% YoY to 847, reflecting sustained buyer activity.
Active Inventory (Avg): Increased by 26% YoY, providing more options for buyers.
Sale Price (Avg): Rose by 4% YoY to $660,457, reflecting steady appreciation.
Months of Supply: Increased by 10% YoY to 4.63 months, indicating a more balanced market.

Williamson County Market Highlights:

New Listings: Decreased by 10% YoY to 1,044, continuing a trend of limited new inventory.
Closings: Increased by 12% YoY to 1,030, indicating strong buyer activity.
Active Inventory (Avg): Grew by 13% YoY, offering buyers more choices.
Sale Price (Avg): Increased by 6% YoY to $901,769, showing robust price appreciation.
Months of Supply: Remained steady at 3.82 months, reflecting a balanced market.

Key Observations Across Both Counties:

Inventory Trends: Both major TN counties experienced increased active inventory, providing more options for buyers. However, a decline in new listings signals potential supply challenges moving forward.
Pricing: Average sale prices rose in both markets, reflecting strong demand and resilience in home values.
Market Pace: While properties in Davidson County are taking slightly longer to sell, Williamson County saw improvements in contract-to-close timelines, suggesting an efficient transaction process.

Looking Ahead:

As we enter 2025, the markets in Davidson and Williamson Counties are stabilizing into more balanced conditions. Buyers may benefit from increased inventory and steady months of supply, while sellers can still take advantage of appreciating property values. However, limited new listings in both markets highlight the importance of strategic decision-making for buyers and sellers alike.

For buyers, this means acting quickly when finding a suitable property, as demand remains high. For sellers, pricing competitively and preparing homes to stand out will be critical to capturing interest in a market with increasing options.