Is Gallatin, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Gallatin was a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $210K | $494.9K | +135.7% |
2 Bedrooms | $349.7K | $365K | +4.4% |
3 Bedrooms | $384.5K | $410.3K | +6.7% |
4 Bedrooms | $560.7K | $656.6K | +17.1% |
5+ Bedrooms | $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 | $423.4K | $449.8K | +6.2% |
Hendersonville | $482.5K | $489.6K | +1.5% |
Housing Supply in Gallatin, TN
How many homes are available in Gallatin, TN?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
300 | 348 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 34 | 40 | +17.6% |
3 Bedrooms | 172 | 193 | +12.2% |
4 Bedrooms | 79 | 97 | +22.8% |
5+ Bedrooms | 15 | 18 | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
54 | 48 | -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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
31 Days | 32 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
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.