Nashville, TN 37209 Real Estate Market Report

ZIP Code: 37209
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.

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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 Nashville, TN, are averaging 6.3%, which is 0.3% higher than the 6.0% rates observed earlier in 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. median sold price $599,900 is the primary indicator of recent market value and transaction activity in 37209; the price year-over-year trend is up, which supports modest appreciation driven by completed sales rather than asking-price momentum.

2. median listing price $675,000 sits above recent transaction levels and may indicate pricing friction between seller expectations and closed deals; this gap appears to be contributing to a more cautious negotiation environment rather than rapid re-pricing by sellers.

3. median days on market 196 signals slower sales velocity and suggests the market is operating with more time-to-contract than in faster cycles; when combined with elevated inventory relative to sales activity, this may indicate moderate transaction volume and increased buyer leverage on individual deal terms.

4. median market rent $2,599 reflects ongoing rental demand but the rent year-over-year trend is down, while interest rate pressure is elevated (current 30-year fixed rates averaging 6.3%, ~0.3% higher than earlier in 2026), which together may dampen near-term investor yield expectations and tighten buyer affordability.

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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.

Nashville, TN 37209 Real Estate Market Report

ZIP Code: 37209
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.

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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 6.3%, which is 0.3% higher than the 6.0% rates observed earlier in 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. The neighborhood's primary market value indicator, the median sold price, is 546,950, reflecting recent transaction-level pricing and suggesting market value anchored near that level while sellers are listing at a higher median listing price of 589,000; this spread may indicate pricing friction in negotiations under a neutral market temperature.

2. Liquidity appears muted with a relatively long median days on market of 207, which suggests slower sales velocity and that transaction timelines may be extended even as the market remains generally balanced.

3. Local price momentum shows a year-over-year price direction of up alongside a median price per square foot of 327, indicating modest appreciation and stable per-square-foot benchmarks that buyers and appraisers can reference when assessing value.

4. Rental conditions show a median market rent of 2,000 while rent year-over-year trend is down; combined with elevated interest rate pressure and current 30-year fixed mortgage rates averaging 6.3%, investors should expect financing cost sensitivity and more selective acquisition decisions.

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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.