The markets touching eastern Nashville have been up-and-coming for a while now. Two of those markets—Madison (or anything within the 37115 zip code) and Dickerson Pike (anything within the 37207 zip code)—have seen incredible appreciation over the past year and are ripe for first-time homebuyers to take advantage of.
In Madison, the average price for a home last year was $149,000. This year, the average price is $185,000. That’s a whopping 24% year-over-year increase, but these homes are still pretty affordable by Nashville area standards.
In my opinion, the most desirable locations within this area are those located closest to the Grayland street neighborhood. There, you’ll find a lot of brick ranches, new construction, and also a few townhomes.
In Dickerson Pike and Brick Church Pike, the average price for a home last year was $214,000. This year, the average price was $242,000, which is a 13% year-over-year increase.
In this zip code, there is a pricing disparity—the closer you are to neighborhoods like McFerrin Park and Cleveland Parks, the higher the prices are. As you head north and east, things start to get more affordable. There are still some great opportunities out along the Bellshire area, though, with a lot of great inventory available. There are also some condominiums popping up along the Dickerson Pike corridor. They’re not for sale yet, but they’re expected to be quite affordable.
If you’ve been thinking about investing in emerging markets in Davidson County, these areas are great options. If you have any questions or you’re ready to start looking for a home, don’t hesitate to give us a shout. We’d be glad to help you.