Is Gallatin, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gallatin is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Gallatin was a Seller's Market.

Key Takeaway

Gallatin is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Gallatin, TN

How much do homes in Gallatin, TN cost?

Median Sold Price

$449,888

$221/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$26,463(+6.2%)

Key Takeaway

Homes in Gallatin have sold for 6.2% more than they did a year ago.

Summary: The median home sold price in Gallatin was $449,888 in February 2024, up 6.2% from last year, and the median price per square foot was $221.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $210K$494.9K
+135.7%
2 $349.7K$365K
+4.4%
3 $384.5K$410.3K
+6.7%
4 $560.7K$656.6K
+17.1%
5+ $915K$942K
+3.0%

Summary: Gallatin housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 135.7%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes increased by 3%.

Median Sold Price Compared To Nearby Cities

Gallatin
+6.2%
Hendersonville
+1.5%

Housing Supply in Gallatin, TN

How many homes are available in Gallatin, TN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
300348+16.0%

Summary: The Gallatin real estate market had 348 homes for sale in February 2024, a 16.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 3440
+17.6%
3 172193
+12.2%
4 7997
+22.8%
5+ 1518
+20.0%

Summary: The Gallatin housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 22.8%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
5448-11.1%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gallatin, you may be able to get a good deal. 45.8% of homes here sold below asking price last month.

Summary: A total of 48 homes were sold or pending in Gallatin in February 2024, down by 11.1% month-over-month. Of the 48 sold homes, 46% were sold under asking, 33% were sold at asking, and 21% were sold over asking.

Days on Market for Gallatin, TN

How long does it take to sell a home in Gallatin, TN?

Average Sale Time

Feb 2023Feb 2024CHANGE
31 Days32 Days+3.2%

Summary: Homes in Gallatin had an average of 32 days on market in Feb 2024, up by 3.2% compared to last year.

Breakdown of Home Sale Times

30 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Gallatin are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 48 homes were sold in Gallatin; 63% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

Newest Listings in Gallatin, TN

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