The Blog of Brian Copeland

East’s Cleveland and McFerrin Parks Shatter Pricing Ceiling

East Nashville’s Cleveland Park and McFerrin Park shattered the $300,000 price point for the first time in 2013.  In a neighborhood where the average sales prices have been well below $100K for decades, could this be proof that East Nashville’s last secret is no longer quiet?

1101 Lischey Avenue commanded the highest price prize with it's enormous 3720 sq ft, 5 bedrooms and 2.5 baths.  At $69 a square foot in 2007, it's obvious that this home STILL was a bargain then.

1101 Lischey Avenue commanded the highest price prize with it’s enormous 3720 sq ft, 5 bedrooms and 2.5 baths. At $69 a square foot in 2007, it’s obvious that this home STILL was a bargain then.

Prior to 2013, the highest price point brought in East Nashville’s 37207 Cleveland Park and McFerrin Park was 807 Stockell Street for $249,000 in February of 2008 and 1101 Lischey Street for $259K in April 2007. Additionally, only 15 homes in the MLS history of Cleveland and McFerrin had closed for over the $200K price point.   Keep in mind, several have been listed and marketing for above $200K, but only those 15 closed on the REALTOR MLS.

Since January 2013, 14 homes have closed strongly over the $200K price point, that’s almost the entire history of the neighborhood’s $200K closing for its lifetime!

317 Hancock's 2700 sq ft, 4 bed/2.5 bath construction was completed in 2013.

317 Hancock’s 2700 sq ft, 4 bed/2.5 bath construction was completed in 2013.

And those $200K+ homes have brought impressive prices.  317 Hancock has set the record for the highest close in June 2013 for $301,500.  Other notable closings include 700 N 2nd ($285K), 242 Treutland ($275K) and 824 N 2nd ($265K).

Currently, five homes over the $200K price point are under contract in the neighborhoods including 812 N 5th at $289,900.  1104 Stockell has appraised for 1523 sq ft at $224K and is set to close by month’s end.  That will boost the price per square foot to roughly $145/sq ft for comparative purposes.

If you’ve been looking for a great window of time to sell, here you go!  Do you want to know what your house could potential sell for now?  Shoot me an email at brian@nashvilleandbeyond.com or call me, Brad or Megan at (615) 763-4010.  You can see who we are and why we love CPNA and MCNA so much in the video above!