Housing market spotlight: Check out the trends in 37208, North Nashville

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Every Sunday, The Tennessean highlights a different ZIP code, as we strive to inform readers and help them navigate Middle Tennessee’s red hot real estate market.

Just a few miles north of downtown Nashville sits ZIP code 37208. North Nashville is home to three historically Black universities: Tennessee State University, Fisk University and Meharry Medical College. The Germantown neighborhood is also within this ZIP code and features Tennessee State Museum and Bicentennial Capitol Mall State Park.

The Tennessee State University Aristocrat of Bands crosses under I-40 on Jefferson Street during TSU's homecoming parade Oct. 14, 2017.
The Tennessee State University Aristocrat of Bands crosses under I-40 on Jefferson Street during TSU's homecoming parade Oct. 14, 2017.
Moon Taxi performs during the Jack Daniel's Music City Midnight: New Year's Eve event at Bicentennial Capitol Mall State Park in Nashville, Tenn., Saturday, Dec. 31, 2016.
Moon Taxi performs during the Jack Daniel's Music City Midnight: New Year's Eve event at Bicentennial Capitol Mall State Park in Nashville, Tenn., Saturday, Dec. 31, 2016.

The median price of a home in this ZIP has increased by about 45% since 2020.

By the numbers, here’s what’s going on in 37208 according to data from the Greater Nashville Association of Realtors.

Home prices rise

A year ago at this time, the median sales price was $450,000. Now, median price is $550,000. In 2020, that price was about $380,000.

Homes sell quickly

This year so far, homes in ZIP 37208 tend to stay on the market for 26 days. Last year at this time, homes spent about 40 days on the market.

Closings drop

Home buyers closed on 408 homes at this point in 2021. So far this year, home buyers have closed on 259 homes. Current inventory is 95 homes.

This article originally appeared on Nashville Tennessean: Housing market spotlight: Check out the trends in 37208, North Nashville