I work with many medical professionals, residents, and physicains who will relocate to Nashville for just a few years or for many years. If you are currently looking for a home in the Nashville area, you may find this information helpful
Vanderbilt area or the 37212 zip code - this area has shown great appreciation over the last several years. For a 3000 to 3500 sq. ft home the average sales price in 2004 was $515,908. This year, using the same criteria the average sales price was $545,885. Most of these homes were built in the 30s and 40s are somewhat smaller and on smaller lots. It is the closest to Vanderbilt University Medical Center.
East Nashville - is a trendy area consisting of older homes and restaurants east and across the river from down town. A 2500 to 3000 square foot home has sold this year on average at $306,380. In 2004, the same size home sold on average for $274,350.
Sylvan Park- These homes were largely built in the 40s and 50s. In 2004, the average sales price in this area for a 2500 to 3000 sq. ft. home was $281,315 compared to $512,000 for the one listing that has sold this year in Sylvan Park.
Green Hills or the 37215 zip code is just south of I 440 and is on both sides of Hillsboro Rd. The average sales price of a 3500 to 4000 sq. ft home in 2004 was $526,234 compared to $617,181 this year.
Brookside which is off of White Bridge Road has been very popular over the years with young medical professionals. These homes were built in the 40s, 50s and 60s. The average sq. footage is around 1500 sq. ft. The average sales price in 2004 was $203,502 compared to an average sales price this year of $266,818.
If a newer home is needed, the Bellevue area which is west of Vanderbilt and the city would be worth a look. The commute time would be about 25 minutes. I compared a 3500 to 4000 sq. ft. home that was built after 1990. The average sales price in 2004 was $286,270 compared to an average sales price this year of $371,571
The Crieve Hall area is also very popular with the young medical community as well. The location is south toward Brentwood off of Franklin Road. The average sales price of a 2000 to 2500 sq. ft home in 2004 was $199,032 compared to a sales price this year of $275,265.
Green Hills Condominiums - The average selling price for a 1000 to 1500 sq. ft Green Hills condo this year was $189,171. The average sales price using the same criteria in 2004 was $178,304.
Vanderbilt Condominiums -For a 1000 to 1200 sq. ft. condo built before 1990, the average selling price in 2004 was $158,616 compared to $220,700 this year. There has been quite a few new condominium units hit the market in this area in the last couple of years. The average price of a new unit with 1000 to 1200 sq. ft is $326,835.
Williamson County - is one of the fastest growing residential areas in the US. The commute time from 37027 and 37069 should be about 30 to 35 minutes to downtown Nashville. Fieldstone Farms is a very popular development in Williamson County. The average active listing with 3500 to 4000 sq. ft in Fieldstone is $412,333 compared to a 2004 sales price of $398,086.
Belle Meade - is our most expensive real estate in the Nashville area. A 5000 to 7000 sq. ft home on at least an acre lot sold for $1.6 Million in 2004 compared to 2008 where the average sales price was also in the $1.6 Million range. The large home ($1,000,000 +) market is very slow. There are 9 active listings in Belle Meade on an acre + lot with 5000 to 7000 sq. ft with an average asking price of $2.0 million Using the same criteria for Williamson County the average asking price is $1.2 million with 100 active listings.
Call me today at 615-300-7896 if you are interested in learning more about the Nashville real estate market.
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