Nashville, TN 37204 Real Estate Market Report

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

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Executive Overview

The real estate market in Nashville, TN (ZIP: 37204) is currently characterized by a median sold price of $1,155,000, reflecting a stable market environment. This indicates a modest appreciation trend, as the market appears to be settling after a period of rapid growth. The neighborhood has increased 15% since 2023, suggesting a positive trajectory in property values despite the recent deceleration in sales activity.

Transaction velocity has slowed, with median days on market reaching 262 days, indicating a longer duration for properties to sell. This trend may suggest a shift towards a more balanced market, as elevated inventory levels are observed, leading to a potential excess supply relative to sales activity. The median listing price stands at $1,487,500, which creates a notable pricing gap that may influence buyer expectations and market dynamics moving forward.

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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

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.

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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 the Nashville, TN market at approximately 6.03% are slightly higher than recent 2026 averages seen around 5.875%.

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. The median sold price of $1,155,000 reflects a stable market amidst changing conditions.

2. Transaction velocity is slower, with median days on market at 262 days, indicating prolonged sales periods.

3. Elevated inventory levels suggest an excess supply relative to sales activity, impacting market dynamics.

4. The median listing price of $1,487,500 indicates a significant pricing gap compared to the sold price, which may affect buyer sentiment.

5. Market temperature is currently neutral, indicating a balanced environment without strong buyer or seller advantages.

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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.