September Real Estate Snapshot: McFerrin Park, Cleveland Park, and Highland Heights

Hey there, neighbors! If you’ve been wondering about the real estate market in our local East Nashville hoods—McFerrin Park, Cleveland Park, and Highland Heights—I’ve got the latest scoop for you. Let’s dive right in and see how September stacked up against August.

The Numbers

August

• Listings Closed: 23
• Average Sales Price: $505,499
• Median Sales Price: $490,000
• Average Square Footage: 1,474 sqft
• Average Days on Market (DOM): 20
• Average Sales Price per SqFt: $357

September

• Listings Closed: 14
• Average Sales Price: $521,539
• Median Sales Price: $494,950
• Average Square Footage: 1,764 sqft
• Average Days on Market (DOM): 24
• Average Sales Price per SqFt: $303

Key Takeaways

1. Fewer Closings, Higher Prices

In September, we saw fewer listings close (14) compared to August (23), but don’t let that fool you—the average sales price actually went up a bit.

2. Size Does Matter

The average square footage of homes sold in September was significantly larger, which might account for the higher average sales price, despite a lower sales price per square foot.

3. Take Your Time, But Not Too Much

Homes are staying on the market a tad longer in September, with an average of 24 days compared to August’s 20. However, if you spot a gem, don’t wait too long; these homes are still moving relatively quickly.

4. Good Deals are Still Out There

The minimum sales price in September was $261,500, significantly lower than August’s minimum of $305,000. So, there are still deals to be found!

5. New Builds Are in the Mix

The max year built for both months was 2023, indicating that new builds are definitely a part of our local market landscape.

Final Thoughts

All in all, the market remains strong and robust. Whether you’re thinking of buying, selling, or just curious about the market, I hope you find this info useful. Got questions? You know where to find me!

Stay awesome, neighbors!

Nick Irwin | 615-418-0563 | nick@basenashville.com