Nashville real estate MLS Data - 2008

According to the MLS, Davidson County as a whole saw 6,923 residential sales in 2008 averaging a sold price of $220,313 in 74 days. Of that total 4,315 were in Nashville with the remaining 2,608 in other Davidson County areas. The average size of the homes were 1928 sf with 3 bedrooms 2 baths. We’ll look here at the top selling real estate subdivisions in Davidson County cities just within Nashville. Other cities were covered in another post.

Nashville real estate sales

Nashville residential real estate sales totaled 4,315 in 2008 at an average price of $250,480 with 73 days on the market on average. The number of homes sold is down from 5,745 in 2007. Top selling Nashville TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) are broken down by “Area” below.

Area 1 (Murfreesboro Road to I65)

Area 1 made up 825 of Nashville sales in 2008 averaging $180,689 and 72 days on the market. Top selling neighborhoods in Nashville within Area 1 (South Nashville) were:

1. Crieve Hall - 80; $234,100; 56 days. The count was down from 111 sold in 2007, but the average sold prices have increased 1.7% compared to 2007.

2. Bradford Hills - 32; $205,080; 72 days. The count was down from 43 sales in 2007. Average sold prices were also down by 2.5% on average compared to 2007.

3. Villages of Brentwood - 24; $173,241; 93 days. The count was down by 1 from 2007. Average sold prices were also down by 2% on average compared to 2007.

4. Stone Creek Park - 21; $329,989; 85 days. The count was down from 36 in 2007. Average sold prices were also down by 13% on average compared to 2007.

5. Brookview Forest - 18; $307,074; 48 days. The count was down from 36 in 2007. Average sold prices were also down by 3% on average compared to 2007.

Other neighborhoods with notable sales in 2008 included: Hillbrook, Holt Woods, Sugar Valley, Huntington Park, The Woodlands, Wexford Downs, Whispering Hills, Christiansted Valley, Caldwell Hall and Barnes Bend.

Area 2 (I65 to Charlotte Pike)

Area 2 of Nashville saw 1,420 sales averaging $453,716 and 79 days on the market. This number is down from 1,855 in 2007. In Area 2, you’ll see lots of cross-collaterialization between neighborhoods. Top selling neighborhoods in Nashville within Area 2 (SouthWest Nashville) were:

1. Green Hills - 137; $629,377; 80 days. The number of sales was down from 175 in 2007, but sold prices were actually UP 9% in 2008 compared to 2007. Some of these are strictly Green Hills, but you’ll find any combination in the MLS of Green Hills with other neighborhoods like: 12 South, Belle Meade, Harpeth Acres, Golf Club, Lipscomb, Woodward, Woodmont, Battlefield, Vandy, Whitland, Rolling Meadow, Wimbledon Area, Belmont and Woodlawn.

2. Belmont - 108; $404,910; 81 days. The number of sales was down from 135 in 2007, but sold prices were actually up 3% in 2008 compared to 2007. The Belmont area is often seen alone or in combination with any of the following neighborhoods: 12 South, Waverly, Hillsboro, Hillsboro Village, Green Hills, or Music Row.

3. West Meade - 68; $524,364; 77 days. The number of sales was down from 116 in 2007, but the average sold price is up about 7% compared to 2007.

4. Belle Meade - 65; $1,227,900; 93 days. The number of sales was down from 90 in 2007, but sold prices were actually up 11% compared to 2007.

5. Sylvan Park - 64; $314,365; 71 days. The number of sales was down from 103 sold in 2007, but sold prices were actually up 3% in 2008 compared to 2007.

6. Hillsboro Area - 58; $460,172; 79 days. The number of sales was 57 in 2007. Average sold prices were down 4% from 2007 in 2008. Hillsboro is often identified and combined as Hillsboro, Hillsboro Pike, Hillsboro Village, Vanderbilt, Vandy, Belmont, and West End.

7. Riverwalk - 55; $250,232; 96 days. The number of sales was down from 108 sold in 2007, and average sold price was down 3% compared to 2007.

8. Oak Hill - 53; $521,160; 86 days. The number of sales was down slightly from 56 in 2007, but average sold price was up 1% compared to 2007.

9. Forest Hills - 35; $693,300; 96. The number of sales was down from 52 in 2007, but the average sold price was up 13% compared to 2007.

10. Traceside -27; $303,092; 76 days. The number of sales was up from 25 in 2007, but the average sold price was down 9% from 2007.

11. Boone Trace - 26; $212,038; 63 days. The number of sales was down from 30 in 2007 and 1.7% in average sold price compared to 2007.

12. Richland - 26; $565,076; 79 days. The number of sales was about the same in 2007, but the average sold price is up about 20% compared to 2007. Richland is sometimes viewed as Historic Richland or seen in combination with West End or occasionally with Cherokee Park.

Other neighborhoods with a reasonable number of sales were Vanderbilt, Sylvan Heights, Somerset Farms, Rolling River, Riverside, Lipscomb, Lexington Point, Kenner Manor, Hillwood Area, 12 South, Brookside, Burton Hills, Cherokee Park, Edgehill, and Harpeth Valley Park.

Area 3 (Charlotte Pike to Cumberland River)

Area 3 of Nashville saw 287 sales averaging $115,542 and 75 days on the market. This number is down from 488 in 2007. Top selling neighborhoods in Nashville within Area 3 were:

1. West Nashville area - 28; $121,075; 77 days. The number was down from 33 in 2007 but the average sold price was up 10% from 2007.

2. Charlotte Park - 24; $159,225; 72 days. Total sold was down from 35 in 2007 along with the average sold price by 4%.

3. Germantown/Salemtown: 11; $237,454; 68 days. Total sold was down from 28 in 2007, along with the average sold decrease by 9%.

Area 4 (Cumberland River to Clarksville Pike)

Area 4 of Nashville saw 143 sales averaging $140,431 and 57 days on the market. This number is down from 119 in 2007. Top selling neighborhoods in Nashville within Area 4 were:

1. Jordan Ridge @ Eaton’s Creek - 48; $201,619; 51 days. This was a new development in 2008 and did not see activity in 2007.

2. Bordeaux Hills - 20; $63,301; 46 days. This was actually up by 2 sales, but the average sold price was drastically down from 2007 in 2008 by 26%

Area 5 (Clarksville Pike to Dickerson Pike)

Area 5 of Nashville saw 286 sales averaging $113,960 and 80 days on the market. This number is down from 619 in 2007. Top selling neighborhoods in Nashville within Area 5 were:

1. Brookview - 24; $147,186; 32 days. This number was down from 78 sales in 2007 with the average sold price down 2% in 2008.

2. Parkwood - 21; $87,995; 89 days. This number is up slightly from 18 in 2007 where the average sold price was also down 19%.

3. Haynes Manor - 16; $100,141; 107 days. This number is up slightly from 13 in 2007, and the average sold price was also up 5%.

Area 6 (Dickerson Pike to Cumberland River)

Area 6 of Nashville saw 828 sales averaging $154,944 and 66 days on the market. This number is down from 1,628 in 2007. Top selling neighborhoods in Nashville within Area 6 were:

1. Inglewood - 93; $176,040; 67 days. This number was down from 136 in 2007, but the average sold price was up by 5%.

2. Lockeland Springs - 78; $278,339; 64 days. This number was down from 105 in 2007, but the average sold price was up by 12%.

3. Eastwood Neighbors - 27; $230,699; 72 days. This number was down from 51 in 2007, but the average sold price was up by 12%.

4. Joywood Heights - 24; $93,788; 88 days. This number was down from 36 in 2007, but average sold price was up 25%.

5.Edgefield - 20; $244,350; 69 days. This number was up slightly from 19 in 2007, but the average sold price was down by 2%.

6. Cleveland Park - 20; $127,024; 73 days; This number was down from 33 sales in 2007, but average sold price was virtually the same in 2007 and 2008.

Area 7 (Cumberland River to I40 E)

Area 7of Nashville saw 321 sales averaging $141,277 and 68 days on the market. This number is down from 444 in 2007. Top selling neighborhoods in Nashville within Area 7 were:

1. River Glen - 25; $120,215; 84 days. This number was down from 37 in 2007, but the average sold prices were virtually the same…slightly higher in 2008.

2. River Trace - 19; $147,484; 72 days. This number was down slightly from 23 in 2007, but average sold prices were up 8% in 2008.

3. Abington Park - 18; $176,997; 76 days. This number was down from 26 in 2007, but average sold prices were up 3% in 2008.

4. Donelson Area - 17; $136,002; 67 days. This number was down from 19 in 2007, and the average sold prices were also down by 12% in 2008.

5. Cloverhill - 16; $117, 528; 49 days. This number is down from 30 in 2007, but the average sold prices were up 5% in 2008.

Area 8 (I40 E to Murfreesboro Rd)

Area 8 of Nashville saw 205 sales averaging $136,576 and 85 days on the market. This number is down from 246 in 2007. Top selling neighborhoods in Nashville within Area 8 were:

1. Edge O Lake - 42, $121,909; 92 days. This number was down from 48 in 2007, but the average sold price was up 3% in 2008.

2. Miro Meadows - 18; $85,052; 58 days. This number was up from 12 in 2007, but the average sold price was down 3%.

3. Priest Lake Park - 15; $163,418; 116 days. This number was down from 25 in 2007, and average sold prices were virtually the same both years.

4. Bayview - 12; $157,650; 78 days. This number was down from 17 in 2007, and average sold prices were also down by 14%.

5. Castlegate - 10; $136,900; 93 days. This number was up from 6 in 2007, and the average sold price was also up by 4% in 2008.

This data should not be used as a comparative market analysis in buying or selling a home. While average sold values may have increased or decreased from prior years, the number and types of homes sold were different from year to year, which may or may not reflect an accurate increase or decrease in value for that particular neighborhood. Many factors not analyzed here contribute to a true comparative market analysis. A Realtor can give you the most recent sales data of “like” properties to present a more accurate picture of a home’s value. If you do not already have a Realtor in which you are working, contact me at 615-739-2944 or denawilliams@kw.com for additional sales data and statistics in Nashville and Davidson County.