Is Gallatin, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$444,995
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Gallatin was $444,995 in March 2024, up 4.7% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $210K | $494.9K | +135.7% |
2 Bedrooms | $350K | $355K | +1.4% |
3 Bedrooms | $382.4K | $409.9K | +7.2% |
4 Bedrooms | $560K | $649.9K | +16.1% |
5+ Bedrooms | $976.5K | $915K | -6.3% |
Summary: Gallatin housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 135.7%, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes decreased by 6.3%.
Median Sold Price Compared To Nearby Cities
Gallatin | $424.9K | $444.9K | +4.7% |
Hendersonville | $481.8K | $490.6K | +1.8% |
Housing Supply in Gallatin, TN
How many homes are available in Gallatin, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
325 | 392 | +20.6% |
Summary: The Gallatin real estate market had 392 homes for sale in March 2024, a 20.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 39 | 41 | +5.1% |
3 Bedrooms | 182 | 226 | +24.2% |
4 Bedrooms | 90 | 103 | +14.4% |
5+ Bedrooms | 14 | 22 | +57.1% |
Summary: The Gallatin housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 24.2%, 4 bedroom homes increased by 14.4%, and 5+ bedroom homes increased by 57.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
61 | 63 | +3.3% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 63 homes were sold or pending in Gallatin in March 2024, up by 3.3% month-over-month. Of the 63 sold homes, 41% were sold under asking, 41% were sold at asking, and 17% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
31 Days | 42 Days | +37.2% |
Summary: Homes in Gallatin had an average of 42 days on market in Mar 2024, up by 37.2% compared to last year.
Breakdown of Home Sale Times
38 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During March 2024, 63 homes were sold in Gallatin; 60% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.