Nashville, TN 37204 Real Estate Market Report

ZIP Code: 37204
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The primary market signal in Nashville, TN (ZIP: 37204) is the median sold price of $1,085,000, which represents the best indicator of realized market value and recent transaction activity. Listing behavior shows a higher asking reference point with a median listing price of $1,197,000, which may indicate some pricing optimism versus completed transactions. With a median days on market of 364 days, recent transactions have required extended marketing time, suggesting slower sales velocity for properties that close.moderate market movement appears consistent with a measured pace rather than rapid turnover.

Inventory conditions in the analyzed sample point to relatively constrained active supply, which appears to coexist with prolonged time-to-contract and modest pricing gaps between asking and sold levels. Price momentum is directionally positive according to trend indicators (up for year-over-year price trend) while rent trends are flat (flat), and interest rate pressure is elevated (elevated), with prevailing financing costs noted at 6.25%—0.86% higher than 5.39% seen in early 2026. Together, these signals suggest a neutral to slightly warm market temperature (neutral) where sellers retain some pricing power but transact over longer timelines and financing costs may temper buyer participation.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Nashville, TN are averaging 6.25%, which is 0.86% higher than the average rate of 5.39% seen in early 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. $1,085,000 median sold price confirms realized transaction values and suggests sellers should price near recent sale comps while accounting for extended marketing timelines; consider emphasizing value-add or staging to reduce the 364 days median days on market.

2. $1,197,000 median listing price shows asking expectations above recent sales, which may create negotiation room for buyers and moderate pricing friction for sellers.

3. $482.4131225853441/sqft median price per square foot indicates a premium per-unit cost for the area; price-sensitive buyers should target properties that justify this through condition or lot/location advantages.

4. $2,475 median market rent combined with stable rent trends (flat) suggests steady rental demand—investors should weigh longer sales timelines against rental income stability when underwriting acquisitions.

5. 0.7035% property tax rate and elevated interest rate pressure imply higher carrying costs; with current mortgage rates at 6.25% (approximately 0.86% above 5.39%), buyers should run conservative financing scenarios and sellers should expect rate-sensitive buyer behavior.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.