Nashville's Real Estate MarketPosted by Gary Ashton: RE/MAX on Friday, July 27th, 2012 at 5:15pm.
The real estate market of Nashville, Tennessee has been doing quite well in recent months, regardless of the struggling economy. With average listing prices at about $329,445 and median sales prices at $157,500, the prices remain at the average for the country. While the prices in the northeast are exceptionally high, the highest in the country, those in Nashville have remained on the lower side. Still, even with the lower prices, the number of homes for sale is up. As of the week of June 20 of 2012, there was a recent sales listing of 3,763 and the number of homes still for sale was 3,892. Based on these numbers, it’s easy to see that the real estate market for Nashville, Tennessee is doing significantly well.
The most popular neighborhoods in Nashville, Tennessee for real estate are West Meade, Sylvan Park, Inglewood, Lockeland Springs, and Hillsboro West End. The lowest average listing price belongs to Inglewood, a neighborhood in northeastern Nashville. Their average real estate listing price is about $198,648, which means that median sales prices in the Inglewood community are considerably low. The community with the highest average listing price, and subsequently the highest median sale price is West Meade, a neighborhood in southwest Nashville, almost on the exact opposite side of town as Inglewood. The average listing price for West Meade, as reported in June of 2012, is $543,775.
Although Nashville’s average price per square foot of real estate has risen 7% since 2011, their overall real estate market is quite strong. They owe some of their prosperity to their successful school system. The best known schools of Nashville are the Metro Nashville Public School District, Harding Academy, Father Ryan High School, along with St. Edward School. Also, with low property crime and violent crime percentages at 5.8% for property crime and 1.5% for violent crime in regard to the percentage of the population effected, Nashville is a great place for new families. In the scheme of the country as a whole, Nashville is doing well and staying at around average for the country. The sales prices are rarely higher than average, with the exception of one or two communities. Nashville’s total population is quite high in comparison to other cities in the United States, standing at 601,222 residents. Nashville is known for having beautifully represented seasons and great communities. In short, Nashville has proven to be a reliable, accommodating city, with great places to live.
The Ashton Real Estate Group of RE/MAX Elite
The #1 RE/MAX Team in Tennessee and #25 in the USA
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