Something intriguing happened over the past 30 days in the East Nashville area that is grabbing tons of attention, Cleveland and McFerrin Parks. The price per square foot hit a record high and the homes are appraising.
It all started late in 2014, when our team closed 1104 Stockell. We held our breath during the appraisal. Candidly, in October of 2011, the market was in a tough place. We were able to get the home under contract but it did not appraise at that point.
We felt pretty confident that when we relisted it in 2013, that not only would it appraise, but it would sell quickly. The appraisal came in at $147.31 a square foot, setting the record in this zone for the highest price per foot in the neighborhood.
That sale opened the door for others to appraise and help improve the neighborhoods’ values. Two homes are currently under contract that could shatter the records further, oddly enough on North 6th, which we profiled back in 2012 as a street with the lowest values.
1010 Stockell Street
1013 North 6th Street
Closed in the past 30 days:
1007 Stockell Street
526 North 2nd Street
1210 Joseph Street
1018 North 6th Street
Remember, it’s not recommended to take your home’s square footage and multiply it by these numbers to come up with your value. This a skewed process, and you should consult a qualified REALTOR. To estimate the price of your home in this area, click here for an instant rough valuation.