Is Gallatin, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Gallatin has remained a Seller's Market.
Key Takeaway
Gallatin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gallatin, TN
How much do homes in Gallatin, TN cost?
Median Sold Price
$445,603
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Gallatin have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Gallatin was $445,603 in April 2024, up 4.8% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $494.9K | +135.7% |
| 2 Bedrooms | $350K | $345K | -1.4% |
| 3 Bedrooms | $384.5K | $410K | +6.6% |
| 4 Bedrooms | $548.7K | $649.9K | +18.5% |
| 5+ Bedrooms | $988.1K | $915K | -7.4% |
Summary: Gallatin housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 135.7%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes decreased by 7.4%.
Median Sold Price Compared To Nearby Cities
| Gallatin | $424.9K | $445.6K | +4.8% |
| Hendersonville | $481.7K | $499.9K | +3.8% |
Housing Supply in Gallatin, TN
How many homes are available in Gallatin, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 382 | 430 | +12.6% |
Summary: The Gallatin real estate market had 430 homes for sale in April 2024, a 12.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 39 | 44 | +12.8% |
| 3 Bedrooms | 220 | 239 | +8.6% |
| 4 Bedrooms | 100 | 120 | +20.0% |
| 5+ Bedrooms | 23 | 27 | +17.4% |
Summary: The Gallatin housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 17.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 80 | 91 | +13.8% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
36 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gallatin, you may be able to get a good deal. 44% of homes here sold below asking price last month.
Summary: A total of 91 homes were sold or pending in Gallatin in April 2024, up by 13.8% month-over-month. Of the 91 sold homes, 44% were sold under asking, 40% were sold at asking, and 16% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 30 Days | -7.2% |
Summary: Homes in Gallatin had an average of 30 days on market in Apr 2024, down by 7.2% compared to last year.
Breakdown of Home Sale Times
61 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gallatin are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 91 homes were sold in Gallatin; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.