As we cross the halfway mark of 2023, it's time to take a closer look at the Nashville real estate scene. Today, we're focusing on six of the most popular neighborhoods, providing a comprehensive overview of current market trends, prices, and inventories. Whether you’re already a resident, planning to relocate, or simply interested in real estate, this guide will offer valuable insights.
1. 12 South: A Premier Residential Neighborhood
Located in the heart of Nashville, 12 South is known for its tree-lined streets, charming bungalows, luxury new builds, and, of course, a steady stream of tourists. As of May 2023, the median sales price for a single-family home was $1.324 million. There were 19 homes for sale in May, marking a significant 137% increase from the previous year.
2. Hillsboro-Belmont: The Charm of History and Walkability
Adjacent to 12 South is the beautiful neighborhood of Hillsboro-Belmont. Nestled close to Vanderbilt and Belmont Universities, this area is loved for its walkability and historic beauties. The median sales price rose to $1.214 million in May, up from $841,000 in January. However, the number of homes for sale decreased slightly, with 13 listings compared to 17 in January.
3. Wedgewood Houston: The Sports Lover's Paradise
Wedgewood Houston, home to Geodis Park and Nashville's Major League Soccer team, is another neighborhood worth considering. The median sales price in May was $780K, marking a 9% year-over-year increase. The number of homes for sale doubled from January, with 20 properties on the market in May.
4. Sylvan Park: The Charm of West Nashville
Sylvan Park, a sought-after neighborhood with a rich history, reported a median sales price of just over 1 million dollars in May. Inventory was low with just 18 listings - the lowest in the last three years.
5. The Nations: Trendy and Growing
The Nations is a rapidly growing neighborhood with a trendy vibe. With its new builds and increasing popularity, the median sales price hit right at $700K for a single-family home, marking a 17% year-over-year increase. As of May, there were 48 homes for sale.
6. East Nashville: The Big Three
In East Nashville, we're combining Lockeland Springs, Inglewood, and Cleveland Park into one. These neighborhoods, each with its unique vibe, reported a median sales price of $605K in May, a slight increase from January and up 13% year-over-year.
Get in Touch
Whether you're thinking about buying or selling a property in Nashville, having a resource you can rely on is crucial. Feel free to reach out to me at justin@justinfloydhomes.com - I'd be more than happy to assist you in navigating the Nashville real estate market.
We hope this blog post has provided valuable insights into the current Nashville real estate market. If you prefer a more visual guide, check out our comprehensive YouTube video covering the same topic.
Remember, real estate trends are dynamic and can change rapidly. Stay updated by subscribing to our YouTube channel, where we frequently post about life and real estate in Nashville.
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