Nashville, TN 37204 Real Estate Market Report
ZIP Code: 37204
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
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.
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.
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.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
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.
Key Findings
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The primary indicator of market value is the median sold price, which is $1,100,000, and it suggests recent transaction values are holding above asking expectations in some cases where listing price gaps exist given a median listing price of $949,892; this gap may indicate persistent seller pricing strength even as market balance shifts. up
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With a median days on market of 332, sales velocity appears slow relative to traditional market turnover, which may indicate moderating liquidity and increased negotiation time despite stable transaction pricing. neutral
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Price momentum shows a year-over-year direction of up for sold prices, while rent is trending down, signaling divergent performance between ownership and rental segments that investors should monitor before underwriting. elevated
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High median price per square foot at $489 combined with median market rent of $2,045 suggests pricing is premium relative to rental income fundamentals; this dynamic may pressure investor yield expectations and warrants conservative cap-rate assumptions. moderate
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Nashville, TN 37204 Real Estate Market Report
ZIP Code: 37204
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
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.
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.
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.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
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.
Key Findings
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The neighborhood's primary indicator of market value is the median sold price of 994,000, which — alongside the reported price year-over-year trend being up — suggests transaction-level price strength despite a neutral market temperature.
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The median listing price of 729,450 sits well below the median sold price of 994,000, which may indicate pricing friction between seller expectations and recent closed transactions; sellers should consider aligning ask strategies with realized sold prices to reduce time to contract.
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The median days on market of 348 points to materially slower sales velocity and prolonged marketing windows, which appears to require more aggressive listing strategies or price concessions to improve liquidity — consider enhancing staging, targeted marketing, or flexible terms to accelerate closings.
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With rent year-over-year trend reported as down and median market rent at 1,995, combined with elevated interest rate pressure and elevated inventory relative to sales activity, expect continued caution among buyers and lenders; underwriting assumptions and hold strategies should be stress-tested for longer vacancy and financing friction.
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold below market average
Sold at market average
Sold below market average
Sold at market average
Sold below market average
Sold at market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.5% rate, 0.6% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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