This January, there were 1,091 transactions that closed in Davidson County, which is a 12.8% increase over this time last year. It’s also an all-time opening record for January in Davidson County, so we’re off to a racing start in 2017. Home values are also up about 11% across the board year over year, which is the same in both the lower-tier markets and luxury markets.
Today, we’ll take a deeper look at Madison and Belle Meade.
Madison is an area in north Nashville in the 37115 zip code. The typical home there is about 1,400 square feet and sells for about $155,000, or $104 per square foot, making it one of the most affordable places in Nashville. Most homes are post-WWII cottages and brick ranches from the 50s and 60s, as well as some newer townhomes and a wide variety of new construction.
The remarkable part is that Madison has seen a 27.4% year over year increase. First-time buyers are looking heavily in this area.
Next, we have the 37205 zip code which encompasses Belle Meade, West Meade, and some other neighborhoods along the Harding Pike Corridor. The typical home in this area is a little over 2,800 square feet and sells for about $681,000. That’s a 29% increase from a year ago; it’s a very popular area and there’s a lot of new construction going on there.
In general, you’re going to encounter competition if you’re looking to buy a home anywhere in Davidson County. If you’re looking to sell a home, it will be a pretty fast and easy transaction, especially if you price your house accurately. The challenge isn’t finding buyers—it’s getting the property to appraise for what a buyer has agreed to pay for it.
If you have any questions about what’s happening in your neighborhood or you’re looking to buy or sell a home in the Nashville area, give me a call or send me an email. I’d love to help you out!