by TJ AndersonThis prediction from Dwell magazine, from late last year, just made its way into my Facebook feed: “Step Aside, Subway Tile — Penny Tile Is the New Classic.” Penny tile,
It Might Be The Perfect Time To Buy A Home In East Nashville
by TJ Anderson
I’ve written a little bit recently about how the Nashville, Tennessee, real estate market closed out 2018 — on an upswing, on the whole, with a little of the leveling out that’s happening in home sales across the country.
The network notes that, while the national home appreciation average is about 5 percent, Nashville on the whole has been working with 10 to 12 percent home-price increases. In some parts of Nashville, those high home appreciation numbers have jumped even higher.
That includes East Nashville’s Cleveland Park, “where a 3-bedroom 2-bathroom home, less than 2,000 square feet, increased in value by 124 percent in eight years, or 15.5-percent per year," the network said. “The same home in Shelby and Lockeland Springs appreciated 11 percent per year. In Inglewood, a 3-bedroom, 2-bath house increased by 19 percent per year over the last eight years.”
A nearly 20 percent per-year price rise, when the very-healthy national average is closer to 5, is certainly something to take notice of.
What East Nashville real estate is looking like now
To put numbers to a phenomenon that anyone in East Nashville has seen: Over five years, the median sales price of a home in East Nashville went from under $220,000 to just over $370,000 now. And home prices are expected to continue to grow across Nashville in 2019.
But if you’ve been thinking about buying a home in East Nashville this winter or spring, a few indicators that your timing might be great:
— We’re in the middle of what tends to be a winter price dip, with the median home sales price in East Nashville coming back down to where it was around summer. If the five-year trend holds, it’ll creep back up in the spring, and likely peak higher after that. So winter househunting in East Nashville could net you a solid deal.
— And if you check out the East Nashville Real Estate data on our site, you’ll see some more good news for prospective East Nashville homebuyers — namely, new listings have been up considerably in recent months. And more inventory means more options for homebuyers, and greater potential for competitive pricing.
Into seeing what this data looks like on the ground? Below, a few East Nashville home listings from the MLS that illustrate an array of options you’ll find on the East Side:
historic home in a rising dining hub
704 Meridian St
Nashville, TN 37207
Totally refreshed but still full of vintage charm, this 1910 home in the McFerrin Park area is full of style, and perched in a pretty perfect spot if dining/nightlife are your things — it’s a quick few steps from newer high-end restaurant Folk and the beloved Wilburn Street Tavern, plus incoming breakfast tacos and brisket joint Red Headed Stranger and a bunch of other in-the-works businesses. This part of East Nashville is definitely in the middle of a business and new-construction growth spurt.
high-end, high-style new construction
1430 B Greenwood Ave
Nashville, TN 37206
Gleaming white stone countertops, high-end gas stove, extra-high ceilings, built-in gas line for the back deck — this new construction on one of the most Lockeland Springs-y streets outside highly desired Lockeland Springs has all the expected details, and a bunch of extras. For new construction in East Nashville, this third-acre plot is sizable, too.
midcentury ranch with upgrade potential
1221 Harwood Dr
Nashville, TN 37206
I meet homebuyers all the time who are aching for a ‘50s ranch that still has the ’50s details intact — candy-colored bathroom tiles, knotty pine and the works. This brick ranch on a quaint, quiet street in the Porter Heights area has original details galore, plus a ton of finished basement space for income potential, a music or art space or just a cool, throwback hangout spot.
park-like in Inglewood
1009 B Calvert St
Nashville, TN 37216
If you’re looking for a big backyard for your kids/dogs to play in East Nashville, focusing on buying a home in Inglewood is a good bet — in the northern-flung Maplewood section, this new-construction home and its on-the-market neighbor each have pieces of property that stretch back almost 300 feet, flat and park-like, perfect for pets and play gyms. The home is spacious too, just shy of 2,600 square feet, with hardwoods, granite, a gas range and all the other high-end details East Nashville homebuyers in this price range expect.
living the dream in Lockeland Springs
511 N 14Th St
Nashville, TN 37206
The pie-in-the-sky dream for many an East Nashville homebuyer: a historic home right in walkable, quaint Lockeland Springs. And this one’s certainly the picture of the dream, built in 1899 and restored with clear loving care, from the trim to the original fireplaces. There’s a great home office/in-law suite/income producer on the half-acre property too, in a 1/1 carriage house perched over the garage.
Are you thinking about exploring East Nashville? Please reach out if I can help you track down the right fit. You can start by checking out some East Nashville homes for sale here, and call or email TJ Anderson Homes here.
Properties are listed with their own respective real estate firms, and not under agreement with TJ Anderson and/or Benchmark Realty, LLC, unless noted.
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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