by TJ AndersonLennon Stella's home, photo via People.comI was already impressed by Lennon Stella, who, by starring in TV drama Nashville, managed to build a double-threat career as an actress and
The Median Home Price In Nashville Breaks A Record Again
by TJ Anderson
It’s the busy spring home-buying and home-selling season in Nashville, but unsurprisingly, it’s already looking busier than ever before.
New figures for March 2017: Closings rose almost 9 percent from a year ago, close to tying the best March on record, and the median price for a single-family home in the Nashville area jumped almost 12 percent from last year, to $273,500. That’s another new record for our area.
This might feel like frustrating news if you’re a buyer (or great news if you’re a potential seller). What I’d say is worth taking from it: Nashville real estate hasn’t peaked yet.
If you’ve been on the fence about whether to look into buying a home in Nashville, these steady record-breaking numbers might encourage you to pick up the pace. We can never predict when selling prices might dip or jump, but personally, I don’t see a drop on the immediate horizon.
There are new options available to make buying a home in the Nashville area more approachable too, like the Great Choice Plus downpayment assistance program — I’m happy to share more about it, and offer whatever other home-buying advice you might want or need (including introducing you to helpful financing folks).
Meantime, let’s take a look at what that median price looks like here right now. Below, a few properties plucked from the MLS all around town, hovering around that asking price. It should give you an indication of what you can expect where, and where your budget and expectations mesh or don’t mesh.
Median-price homes in the Nashville area, spring 2017
926 Woodland St, Unit 109
Nashville, TN 37206
We’ve all watched East Nashville’s rapid rise — that median price, right now, is on the low end for homes for sale in 37206, especially if you’re looking close to the busy retail/restaurant hubs in the neighborhood. Lofts and condos are a good option at that price point, like this East End Lofts unit, with 2 beds and 2 baths. It’s a quick walk from 5 Points, shouting distance from cool East Side hangs like The Basement East and Edley’s Bar-B-Que, and stocked with cool loft style (like concrete floors).
2330 Riverside Dr
Nashville, TN 37216
If you head a little north in East Nashville to Inglewood, this 2-bed, 1-bath home is pretty typical of what you can expect at that median asking price. Some updates here, plus solid potential if you’re willing to do the sweat-equity thing. Great location and property, too — a private half acre, walking distance from Riverside Village and its many dining options.
615 Galaxie Dr
Nashville, TN 37209
Charlotte Park in West Nashville is coming up fast, but there are still great finds at a well-under-par per-square-foot price. Like this mid-century brick home, with more than 2000 square feet, 4 beds and 2 baths. If you prefer original touches to be in place, you’ll find time capsules here, like ‘60s bathroom tile and what looks to be the original kitchen. If you’re gunning for a rehab, you’re starting with a good amount of space and a rising location, and those beloved mid-century-ranch bones.
1835 11Th Ave N
Nashville, TN 37208
There’s a lot happening in the Buchanan Arts District right now, from home renovations to new shops and restaurants popping up regularly. (I just wrote about the beautiful design at Slim & Husky's Pizza Beeria.) On the renovated-home front: Take a look at this wholly overhauled 1930 cottage. It’d make a cool starter-home for folks wanting to invest in an area on its way up.
20 A Claiborne St
Nashville, TN 37210
Looking for new construction around that median price? Chestnut Hill is another rebounding area close to downtown, where you can find new builds like this with all the expected new-build details (hardwoods, stone countertops, open layout) in that price range.
204 Wauford Dr
Nashville, TN 37211
Caldwell Hall and Crieve Hall are some of my favorite treasure troves of mid-century ranches in Nashville. This 1961 Caldwell Hall home is a good indication of why — well-kept and cute, with a lot of original details that have gotten a little bit (but not too much) of modern love, like paint on the paneling and updated light fixtures.
Do you have a specific area in Nashville you want to explore, to get a better sense of what your budget gets? Or are you up for a little adventuring through the city?
We help buyers throughout Nashville, from first-time buyers to families looking for large estates. Reach out and tell us about what you’re looking for in a home — we’d love to help you find it!
Properties are listed with their own respective real estate firms, and not under agreement with TJ Anderson and/or Benchmark Realty, LLC.
TJ Anderson is a Nashville Realtor with Benchmark Realty who's helped countless clients both buy a home and sell a home in Nashville, Tennessee. He blogs about Nashville regularly, from Nashville-area....
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