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November 2023

November Real Estate Update – McFerrin Park, Cleveland Park, and Highland Heights

November Real Estate Highlights

As we step into the winter months, the real estate market in McFerrin Park, Cleveland Park, and Highland Heights continues to show vibrant activity. Here’s a snapshot of November’s market dynamics:

  • New Opportunities: We welcomed 22 new listings this month, offering a fresh selection of properties for prospective buyers.
  • Moving Fast: 11 homes went under contract, indicating a steady demand in our neighborhoods.
  • Inventory Insights: The average active inventory was 53, with an additional 18 homes under contract, bringing the total inventory to 71. This variety provides buyers with choices while maintaining a healthy market balance.
  • Closing Deals: A total of 12 homes closed, reflecting continued interest and successful negotiations in our community.
  • Pricing Trends: The average sale price was a notable $498,600, with the median sale price slightly higher at $510,075. Active listings averaged at $719,528, suggesting a robust market with high-value properties.
  • Time on Market: Homes sold quickly, averaging just 15 days on the market. However, the average time from listing to contract was 55 days, indicating a thoughtful decision-making process by buyers.
  • Looking Ahead: With a 4.92-month supply, we’re in a balanced market, favoring neither buyers nor sellers excessively.

Practical Advice for Home Sellers

Given the current market conditions, sellers should consider the following:

  • Pricing Strategy: Align your listing price with current market trends. A competitive price can attract more buyers and shorten the time to sell.
  • Staging and Presentation: First impressions matter. You can enhance your home’s appeal to attract buyers quickly.
  • Be Prepared for Negotiation: With homes moving swiftly, be ready for offers and negotiations to ensure a smooth sale process.

Our neighborhoods continue to thrive in the real estate market. Whether you’re considering buying or selling, now is a great time to explore your options. Stay tuned for next month’s update!

October 2023

As we step into the fall of 2023, the Nashville real estate landscape presents a mixed bag of trends. October has brought some noticeable changes, and it’s essential to dive into the numbers to understand the market’s trajectory. Here’s a snapshot of where we stand:

Slowing Down, But Price Tags Rise:
October saw a total of 11 properties changing hands. While not the lowest monthly sales volume this year (January held that with just 4 closings), it’s a noticeable drop from August’s peak of 23. Despite this, the average sales price hit a yearly high of $632,205. It seems that even with fewer sales, property values are not taking a hit.

Price Points in Perspective:
The median list price per square foot stood at $313, quite the middle ground compared to the $380 high in August and the low of $276 back in January. The sales price per square foot followed suit at $306, suggesting that buyers are negotiating prices down slightly.

Time on Market: A New Pace:
Properties lingered for a median of 42 days on the market before going under contract – the longest stretch we’ve seen all year. This shift might signal a move towards a buyer’s market, where buyers have the luxury of choice and less urgency to close deals.

Closing the Deal: 
The median time from contract to close was 39 days, just shy of July’s 40-day high, pointing towards a longer closing process.

Inventory Insights:
October broke the year’s record with 51 active listings. More choices for buyers could be driving the increased days on market.

Pending Properties: A Dip in Demand?:
With 20 pending properties, demand seems to have cooled off slightly compared to earlier months.

The Wrap Up:
October’s real estate rhythm in Nashville has been less about the number of closings and more about the quality of transactions. Prices remain robust despite a slower market, indicating that Nashville’s allure remains strong, albeit with a shift in dynamics. As we move closer to the end of the year, it’s an opportune time for buyers looking for options and negotiating power. For sellers, it’s about patience and positioning to capture the best value.

Keep an eye out for these updates each month!

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

 

September 2023

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

August 2023

With the curtains drawing on a vibrant summer, I wanted to provide an update on the real estate tempo of August. Having sifted through the data, I’m eager to share these insights, especially about our cherished communities in Cleveland Park, McFerrin Park, and Highland Heights.

1. Pulse of the Properties:

  • New Homeowners: In August, 23 homes found their new custodians, illustrating a dynamic market.
  • Awaiting Ownership: 41 properties are still looking for their match.
  • On the Cusp: Another 22 homes are nearing their sale completion.

2. The Financials:

  • Listing Price Per SqFt: Homes were listed at a median of $380 per square foot.
  • Closing Price Per SqFt: They sold very close to their list price, at $376 per square foot.
  • Median Sales Price: Homes settled at a median price of $505,499.

3. Timeframes:

  • Quick Decisions: On average, homes were on the market for a mere 3 days.
  • From Agreement to Key Exchange: It took about 32 days to close a deal.

4. Achieving Value:

Did you know? Homes in August sold for an incredible 99.77% of their listing price. If you’re a seller, this stat should have you grinning!

In Retrospect:

Each month is like a chapter in the East Nashville real estate story. And August? It reaffirmed the allure and vitality of our local scene. The essence? The magnetism of East Nashville – with its mix of history, community, and charm – remains undiminished.

To all the fresh faces in the neighborhood, a hearty welcome! And for those pondering their next move or simply intrigued by property trends, remember, our community thrives on connection. Don’t hesitate to reach out.

Here’s to the ever-evolving tapestry of our neighborhood!

Talk to you all next month!

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

July 2023

Howdy neighbors! It’s time to chat about the real estate scene in our beloved McFerrin Park, Cleveland Park, and Highland Heights neighborhoods for July 2023. You know I love crunching numbers, so let’s break down the stats that matter!

Closed Properties:

In July, we saw 10 properties sealing the deal and finding their happy new owners! That’s ten families or individuals joining our vibrant communities. How exciting is that?

Price Trends:

The median list price per square foot was $308 for homes put up for sale during July. And when it comes to actual sold properties, the median sales price per square foot was $267. It’s always fun to see how the list prices compare to the final sales prices, right?

Days on Market and Contract to Close Days:

If you blinked, you might have missed some of these properties hitting the market! July’s median days on the market (DOM) stood at 11 days. Impressive, right? 

Current Market Inventory:

As of July, we had a total of 47 active properties waiting for new families to call them home. And 26 properties were already under contract and getting ready to say, “Sold!”

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July 2023 was a pretty happening month in our real estate world. With 10 properties closing the deal, stable median prices, and a reasonable time on the market, it’s safe to say our neighborhoods are as attractive as ever!

But remember, these numbers are just a part of the big picture. When it’s time to buy or sell, team up with local real estate experts who genuinely know our communities inside out. They’ll guide you through the process and ensure you find that perfect place to call home.

So, until next time, keep an eye on the local real estate market, and I’ll see you around the neighborhood! Cheers!

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

June 2023

Hello, neighbors of McFerrin Park, Cleveland Park, and Highland Heights! It’s time for our monthly market update to keep you informed about the real estate trends in our community. Let’s dive right into the numbers for June 2023

In the past month, our combined neighborhoods saw a total of 18 properties being sold. This is a slight increase from last month’s total of 15 properties, indicating a positive trend. The median list price per square foot stands at $350, while the median sales price per square foot is slightly lower at $335. This suggests that properties are generally selling very close to their asking prices.

The median days on the market have remained impressively short at just six days, showing that homes are in high demand in our neighborhood. Additionally, the median contract close days averaged 30 days, indicating a relatively quick turnaround from offer to closing.

Although the average sales price to list price ratio dipped a bit this month, down to 96.51%, it still suggests that properties are selling at a price very close to their listed value. This is great news for sellers in our area.

Currently, we have 41 active properties available for sale, providing plenty of options for prospective homebuyers. Moreover, there are 27 pending properties, indicating a healthy level of buyer interest. In June, the average sales price for our neighborhood was $494,733, showcasing the value and desirability of our community.

Comparing this year’s market statistics with those of the same month last year, we observe some interesting trends. The total number of properties closed this year is down by 5% compared to the previous year. The median sales price per square foot has also experienced a 5% decrease. However, the contract-to-close days have decreased by 3%, meaning properties are selling and closing even faster than they were last year.

Furthermore, our sales price to list price ratio has seen a decline of 7% from last year. On the other hand, the current number of active properties has increased by 32% compared to the previous year, offering more choices to potential buyers. However, the number of pending properties has decreased by 13%, indicating a slight slowdown in the market. Lastly, the average sales price has dropped by 18% compared to the same period last year.

As always, it’s essential to keep in mind that real estate market trends can fluctuate, and these numbers provide a snapshot of our neighborhood’s recent performance. If you’re considering buying or selling a home, it’s recommended to consult with a local real estate professional who can provide personalized advice based on your specific needs.

That’s it for our June 2023 market update! Stay tuned for more exciting news and developments happening in our vibrant community. Please reach out with any questions!

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

May 2023

Hey Neighbors! The real estate market in McFerrin Park, Cleveland Park, and Highland Heights witnessed some interesting trends and figures for the month.

Let’s delve into the details and gain insights into the local neighborhood real estate market. In May 2023, a total of 15 listings were closed in the neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights. The closed listings in May 2023 showcased varying property sizes, with the minimum square footage at 910 sq ft and the maximum at 3,310 sq ft. On average, the properties had approximately 1,890 sq ft of living space, while the median size stood at 1,807 sq ft.

The list prices of the closed listings ranged from $369,900 to $950,000. On average, the list price was around $630,100, while the median list price stood at $590,000.

The sales prices also spanned a wide range, from $355,000 to $950,000. The average sales price was $625,893, and the median sales price was $600,000. These figures indicate the range of prices at which properties were being listed and sold, reflecting the diversity of the local real estate market. On average, the closed listings spent approximately 22 days on the market before being sold. The shortest time on the market was 0 days, indicating properties that eager buyers quickly snatched up.

The longest time on the market was 77 days, highlighting properties that required more time to find a buyer. The average list-to-close time, representing the duration between listing a property and closing the sale, was around 37 days.: The May 2023 real estate market statistics for McFerrin Park, Cleveland Park, and Highland Heights demonstrate a dynamic and diverse local housing market.

With a range of property sizes, bedrooms, bathrooms, prices, and ages, these neighborhoods provide options to suit various preferences and budgets. Whether you’re searching for a historic home or a modern property, our neighborhood offers a vibrant real estate landscape worth exploring. Check out even more details on my youtube channel, where I give a monthly breakdown here!

Nick Irwin • BaseNashville

? 615.418.0563

✉️ nick@basenashville.com

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PARKS ?615.383.6964

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April 2023

Hey Neighbors! Welcome to your real estate market update for Cleveland Park, McFerrin Park, and Highland Heights. I’ve got the latest scoop on our local real estate market for the month of April 2023. 

In April, we had a total of 7 properties closed. Now, that’s a bit lower than the past couple of months, when we saw 12 closings. But hey, let’s see what else the numbers have in store for us!

The median list price per square foot in April was $340, which is a little dip from the previous month’s $377. However, if we look at the rolling three-month average, it comes to around $367. 

In April, the median sales price per foot stood at $339

Now, here’s an exciting one. The median days on the market dropped to just six days in April! That’s way shorter than the 12 days we saw in March and the 14 days in February. The rolling three-month average is now down to 13 days. So, properties are moving fast!

From contract to close, it took around 34 days in April. That’s pretty consistent with the previous month’s 35 days and slightly lower than the 32 days in February. So, you can expect a quick closing process with an average of 34 days.

In April, properties sold at an average of 99.37% of their list prices. 

As for the current market, we’ve got 33 active properties in April, up from 28 in March and 26 in February. However, the rolling three-month average is 27 properties. And we had 25 pending properties, just like last month but lower than the 30 we had in February. The rolling three-month average is 28 properties. So, the market is active, with properties coming in and going under contract.

Finally, let’s talk about the average sales price. In April, it was $501,429. It’s a slight increase from March’s $498,167 but lower than February’s $620,292. The rolling three-month average price point is $559,230. So, that’s the ballpark figure we’re looking at.

And there you have it! A snapshot of our real estate market in April 2023. If you’re looking to buy or sell, these stats can give you some insights into the trends and dynamics of our neighborhood. If you have any questions or need help, please remember that I’m always here to help you navigate the market.

– Nick Irwin

615-418-0563 | nick@basenashville.com

March 2023

Alright, friends, I’m excited to share the latest real estate scoop in our wonderful neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights! Let’s dive into March 2023.

We had a total of 12 properties close, matching February’s numbers. Now, the median list price per square foot increased from $357 to $377, and the median sales price per square foot followed suit. Properties sold a bit quicker, with median days on the market dropping from 14 to 12 days.

However, the median contract-to-close days took slightly longer—35 days in March compared to 32 in February. The average sales price to list price percentage remained relatively stable, dipping just slightly from 98.93% to 98.42%.

Our market inventory experienced some growth, with active properties increasing from 26 to 28 while pending properties dropped from 30 to 25. Additionally, the average sales price decreased from $620,292 in February to a more budget-conscious $498,167 in March, offering more options for potential buyers in our fantastic community!

Stay tuned for more monthly market stats for our combined neighborhoods. Please don’t hesitate to reach out if you have any real estate or home value questions, I’d be happy to chat!

Nick Irwin • BaseNashville • 615.418.0563 • nick@basenashville.com

Village • 615.383.6964

February 2023

Hi neighbors, the numbers for last month are in for Cleveland Park, McFerrin Park, and Highland Heights. I keep up with these numbers so I can stay in touch with the neighborhood trends, and also, you can get an idea of a general sense of value. Many factors can influence a home’s value, but keeping an eye on the price points around you for homes that are similar to yours can help at least give you a range of your home’s worth.
In February 2023, a total of 12 properties closed, with a median list price per square foot of $357 and a median sales price per square foot of $350. The median days on market for these properties was 14, while the median contract-to-close days was 32. We’re seeing these numbers relax a bit, especially compared to two years ago when a home would only stay on the market for 24 hours, if that. So it’s good to see the balance returning and buyers and sellers getting a fair shot.
The average SP/LP% (sales price to list price ratio) was 98.93%, indicating that properties sold very close to their asking price (asking price = 100%). There were 26 active properties and 30 pending properties during the month, suggesting a strong market demand.
The average sales price for February 2023 was $620,292, indicating a continued upward trend in the local real estate market. This is typical for the spring market – as the weather heats up, so does the real estate market.
Let me know if you’re curious about what your home is worth; I’d be happy to check that for you. ALSO, don’t forget the BaseNashville Community Yard Sale is coming up on Saturday, April 1st. Check out the BaseNashville Fb page for more details!

January 2023

Hello neighbors!
Nick Irwin here with your report on the first full month of 2023. The real estate market in McFerrin Park, Cleveland Park, and Highland Heights in January 2023 saw a total of 4 properties closed for the month. This is not unusual for us in January in our neighborhood and in the industry as a whole.
The median list price per square foot was $276, and the median sales price per square foot was $271. These are great metrics when coming up with ballpark figures when pricing a home. Though don’t be fooled by the quick napkin math; these are only a part of the process. Most importantly, when pricing a home, it’s good to have an agent that is familiar with your area.
The median days on the market was 6, which is great to know for the sellers out there; we are seeing that there are people wanting to move into these areas. The median contract-to-close days was 37, which is a fairly average amount of time for our area. The average sales price to list price ratio was 96.93%, indicating that the market is balancing to the ratios we saw in 2019.
The day we pulled this data, there were 33 active properties here in our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights and 23 pending properties. The average sales price was $612,250. We love to see it!
If you’re thinking about buying or selling in the spring, give me a shout asap so we can get ahead of the market.
See you next month!
Nick Irwin
615-418-0563
nick@basenashville.com

December 2022

Hi neighbors!

The final month of 2022 stats are out for our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights.

For December, we saw a total of 15 properties close.  This was an increase from last month but a decrease of 50% in closings over this same month in the previous year (2021).

Our median list price per foot was $329, and our median sales price per foot was $335. These are the numbers that online evaluation tools use to guess the price of your home. Sq Ft x Median Sales Price per foot = guesstimate!

Our median days on market was 16, and the median contract to close was 30 days, creating an average sales price to list price ratio of 97.18%.

There are currently 25 active properties in the neighborhood available for purchase and 20 pending sales.

The average sales price for McFerrin Park, Cleveland Park, and Highland Heights for the month of December was $599,647! 

We love to see it, and I would love to hear from you. Are you thinking of buying or selling this year? If so, call me before you decide to fix anything up around the home; I can help you figure out the return on investment for updates and renovations. Reach out to me at the contact info below; I’d love to chat, email, or text.

See you next month with the numbers for the first month of 2023!

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

November 2022

Hello neighbors! Nick Irwin here with your monthly report on home sales in our combined neighborhoods of Cleveland Park, McFerrin Park, and Highland Heights

For the month of November 2022, there were a total of 11 closed properties for the month. Which is nearly a 50% drop compared to the same month last year, when we had 28 closed properties (November 2021).

The median list price per foot for the month of November was $348 per foot, and the median sales price per foot checked in at $335 per foot

Our average days on market was a quick 2 days, and the contract-to-close timeline lasted 32 days on average with a 97% list price to sales price ratio. 

There are currently 31 active properties in our combined neighborhoods of Cleveland Park, McFerrin Park, and Highland Heights, and there are 30 pending properties set to close out in the near future.

Our average sales price for the month of November was $618,800. We love to see it!

If you’re interested in listing in the Spring, let’s talk about that now before you hire tradespeople or start working on your home. A Realtor can help you discern the highest return on investment with those repairs, so you’re not throwing your money away. Feel free to reach out via text, call, or email!

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

October 2022

Hello, neighbors! I am checking in with our combined neighborhoods’ October 2022 real estate market statistics for McFerrin Park, Cleveland Park, and Highland Heights.

In October, we saw 8 homes close out in the MLS. This was a decrease from months prior and a significant decline from the 23 closed homes in October of last year.

The median list price per square foot was $315, and the median sales price per foot was $290

Homes are still selling quickly, with median days on the market of 3 days and a contract-to-close timeline is around 26 days

The average sales price to list price ratio is a strong 98% – indicating that sellers are negotiating some – but are still accepting offers very close to the asking price.

At the time I am writing this, there are currently 32 active homes for sale in the neighborhood and 28 pending properties.

The average sales price for October was $574,625, representing an increase of 9% over the same month last year.

I hope you all have a restful holiday, and check back next month for more real estate news!

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

September 2022

Happy Fall, neighbors!

It is finally cooling off a bit, October is in full swing, and I have some neighborhood real estate stats to share with you guys!

For the combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights, we saw a total of 13 properties close out in the MLS for the month of September. This was a slight decrease from the 18 closed homes last month.

Our median list price was $332/ft, and the median sales price was also $332/ft.

The median days on market for the month of September was 12 days (this was an increase from the five days we saw in the previous month).

Houses are mostly closing out in 31 days or less.

There are currently 30 Active properties for sale in McFerrin Park, Cleveland Park, and Highland Heights. Compared to September 2021, we had only eight properties available for purchase.

The average sales price for our neighborhoods was $569,354.

If you know anyone looking to buy or sell in our area – I would appreciate you connecting us! Thanks all, see you next month!

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

August 2022

Hello neighbors!

Nick Irwin here with the Neighborhood report for August 2022, Summer is winding down, and I am checking in to share the neighborhood real estate stats for our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights.

We saw 18 total properties close out in the multiple listing service last month – representing a slight increase from the 16 closed properties in July.

The median list price per foot was 353/foot, and the median sales price per foot was 346/foot. This means that houses are selling relatively close to the listing price. Our average sales price to list price ratio (at 99.05%) also supports this statement.

The inventory is increasing in our neighborhood – we have 31 properties available for purchase compared to the 21 available last month.

There are currently 35 pending properties in the neighborhood.

Our average sales price for August 2022 was $422,000.

If you are looking to sell – the demand for our neighborhood is still great, but pricing accurately is more important than ever. HIRE A PROFESSIONAL – I’d love for that to be me, so reach out below!

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

July 2022

Hello neighbors!

School is back in session, and this real estate market is one for the books! The interest rates have adjusted, and the housing market has responded – turning our red hot seller’s market into a more balanced field for both buyers and sellers.

Last month, our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights saw a total of 17 properties close with an average sales price of $542,291.

Though fewer properties closed than last month, our median list price per foot and median sales price per foot have increased to $379 per sqft.

Properties are still selling quickly, with an average of 2 days on the market and 32 days between contract and closing.

There are currently 21 active properties in our combined neighborhoods and 33 pending properties.

If you are looking to buy in our neighborhood – I have not seen market conditions this favorable in a while (seller concessions, full inspections, etc.).

If you are looking to sell – the demand for our neighborhood is still great, but pricing accurately is more important than ever. HIRE A PROFESSIONAL – I’d love for that to be me, so reach out below!

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

June 2022

Hello, Neighbors of McFerrin Park, Cleveland Park, and Highland Heights! Summer is in full swing, and I am here to share the real estate market statistics for June with you!

During the month of June, our neighborhoods saw 19 properties close, an increase over last month. Our median list price per square foot and median sales price are slightly decreased from last month. The median contract to close days crept up slightly to 31 days for June,

The average sales price to list price is 104%, meaning that properties are selling over the asking price on average. If you are shopping for a new home in the neighborhoods, there are currently 31 options to choose from (active properties); and 31 pending properties are set to close soon.

The average sales price last month was $601,553. In reviewing this information against the previous year’s same-month data, the total number of properties closed for the month is down 89%, which reflects our continued lack of inventory in the neighborhoods. Additionally, the average pending properties are down 74% compared to last year.

Cleveland Park, McFerrin Park, and Highland Heights are changing in Nashville. Unique properties are still selling with multiple offers, but it is not a time to speculatively price your properties. The interest rates have slowed some buyer activity and are moving into balanced market conditions. Home prices are not expected to decrease, but the competition will be less – creating favorable conditions for buyers.

If you are considering buying or selling, make sure to contact a qualified neighborhood Realtor – I am, of course, happy to help if you need anything!

– Nick Irwin, 615-418-0563, nick@basenashville.com

May 2022

Hello Neighbors!
Last month was an active month for the real estate market in our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights.
For the month of May, we had a total of 10 properties close for an average sales price of $589,300. The median list price per foot checked in at 371, and the median sales price per foot was 383. The median days on market was 2, with the contract to close period lasting 28 days. There are currently 27 active properties in our neighborhoods with 29 pending properties.
Depending on how closely you follow these numbers, you may see a HUGE decrease in closed properties compared to this same month last year (a 140% decrease). Still, we are in a very healthy market for sellers considering the inventory shortage (-131% from last year) and sales price increase (26% increase over the previous year).
If you have any questions about your home value or purchasing a home in our area – please reach out. See you next month!
-Nick Irwin • 615-418-0563 • nick@basenashville.com

April 2022

Hi neighbors!

The numbers are in for April and the real estate market in our combined neighborhoods of McFerrin Park, Cleveland Park, & Highland Heights is stronger than ever. We saw a total of 21 properties close out last month at an average sales price of $620,810. The median list price per square foot was 307 sqft with a median sales price per foot checking in at 323 sqft. This means that properties are STILL selling for more than the list price in most cases. That is further supported by the list price to sales price ratio that stood at 104.65% last month.

We have 10 active properties in our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights – a notable 159% DECREASE in housing inventory from this same month last year.

 

Mortgage rates have sharply increased during the previous two months, but we have not seen a significant impact from this in our neighborhoods. Check back in next month for more nerdy real estate facts!

-Nick Irwin, Realtor

March 2022

The weather is warming up, and so is the Spring real estate market! The numbers are in for the month of March for our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights.

In March, we saw a total of 9 properties close, representing an 89% decrease compared to the number of homes closed last month. However, we had an average sales price of $635,772, which represents a RECORD high average sales price for the neighborhoods.

Our average sales price to list price ratio is down slightly to 100.05% (houses are still selling at or slightly above the asking price) with a short 14 days median contract to close.

The median list price per square foot and median sales price per square foot is 342 per foot. As of today, there are currently 28 properties under contract and waiting to close, but only 5 available homes for sale in our neighborhoods.

See you all next month!

-Nick Irwin

February 2022

Hi neighbors!

Today we’re talking through the data for the month of February for the combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights. The median list price has increased 28% over this time last year, and our average sales price is up 19% over the previous year to $572,025.

Our average sales price to list price ratio is at 102%, again indicating that properties are selling over the asking price in most cases. There are currently 24 properties pending and only 6 active properties available for purchase. Our inventory is down over 100% from this same time last year.

If you are interested in talking about the value of your home OR if you know of someone looking to buy, sell or invest in the neighborhood – please reach out!

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

January 2022

Inventory is low, prices are higher than ever!

For the month of January, our combined neighborhoods of McFerrin Park, Cleveland Park, & Highland Heights saw only 3 properties close. This is a reflection of the limited inventory – currently, there are only 7 active properties for purchase. For comparison and context, In January 2021 we saw 16 properties close with 13 actives

Our median list price per foot was $378 with the median sales price per foot at $349. The contract to close was a quick 25 days (indicating most deals are cash or limited financing).


Our average sales price for the month was $348,467. Remember that there were only 3 closings – so that significantly skews this number.

Thanks for staying up to date with everything in the neighborhood, and as always, if you are curious about your home’s value please don’t hesitate to reach out!

See you next month!

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

Year End Review 2021!

The 2021 Year End Review!

Hey neighbors it’s me again, checking in with your year-to-date market statistics for our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights.

For our neighborhood, we saw a total of 308 properties close for 2021 with a median list price per foot of $281 the median sales price per foot was $283. The median days on market was a whopping 2 days before going under contract, and contract to close days for the year was quick 32 days.

Comparing the year 2021 to the previous year there were 308 properties in 2021 and 280 in the year 2020 however sales price increased from $373k in 2020 to $475k in 2021!  That’s over a $100,000 difference in that one year!

The average sales price for the entire year was $475,701 in 2021.

So maybe you knew what your home was worth last year, or even the year before, but it’s worth your time to see what it’s worth today? I try to stay on top of our area so send me your home address and I will check to see what homes like yours are selling for in our combined neighborhoods.

See you next month!

December 2021

Hello all! Rounding out the year for our combined neighborhoods, we saw 30 properties close for the month of December with a median list price of $388 per square foot and a median sales price of 340/ft.

The median days on market were ZERO with 33 days between contracting and closing out the sale.

Our average sales price to list price is still over 100%.  At the time I pulled these numbers there was one active property available for purchase and 18 pending properties.

Our Average sales price checked in at $533,103 for the month which is over a $100k difference from last year. Talk about equity!

Stay tuned for the yearly recap for our combined neighborhoods.  As always, if you know of anyone looking to buy, sell or invest in our neighborhood – contact me! I’m always happy to help my neighborhood.

-Nick Irwin

November 2021

Hey neighbors!

Nick Irwin here checking in with the 2021 market statistics for November 2021 for our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights! For the month of November, we had 28 closed properties, which is up by five from the previous month (October). Our median list price per square foot was at $299 and the median sales price per foot checked in at $297.

The median days on market is 4 days, which means homes are still selling quickly, with 38 days between contracting and actually closing out in the MLS. The average sales price to list price ratio and checks in at 101.51% again meaning that properties are selling over the asking price on average.

The most surprising statistic for the previous month was that there are currently only two active properties for sale in Cleveland Park McFerrin Park and Highland Heights with 34 pending properties.

The two active properties are representative of a lack of inventory in our neighborhoods, which I’ve been talking about for a while, but just for comparison, at the same time last year there were 22 available properties for purchase so this year shows a significant decrease. Last but not least, everyone’s favorite number, our average sales price is $484,737.

So once again, this is an incredible time to sell your home. If you’re curious about the value of your home, please feel free to reach out as I run numbers on our neighborhoods frequently and I’d love to help my neighbors stay informed.

See you next month!

October 2021

It is time again for our market review for real estate for the combined neighborhoods of Mcferrin Park, Cleveland Park, and Highland Heights. For the month of October, our combined neighborhoods saw 23 properties closed (same as last month but with a 39% DECREASE since this same time last year).

Our median list price per square foot was $305 and the median sales price per foot was $307. This means that most properties are closing out above the asking price with a quick 4 days on the market. There are currently 46 properties pending in our community.

The average sales price for the month of October was $525,274,  representing a 25% increase over this same month last year.

Thanks again for checking in, see you again next month when we go overs November’s numbers. In the meantime, if you’re curious about the current value of your home please don’t hesitate to reach out. Also, if you’re looking to buy, let’s talk about your home shopping needs and pre-approval process to get you in the home you want.

Thanks so much!

-Nick Irwin

September 2021

Hey, neighbors Nick Irwin checking in with the market stats for our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights for the month of September.

In September we had a total of 23 properties close in our neighborhoods. The median list price per square foot was $283 and the median sales price per square foot was $289. That means that houses are selling over the asking price in most cases.

The median days on market is 2,  meaning that a property sits on the market for around two days before accepting an offer. It then takes around 31 days for those properties to close out in our multiple listing service. The average sales price to list price ratio is at 100% meaning that properties are selling at the asking price.

There are currently 8 active properties on the market for purchase and 54 pending properties that are under contract. Our average sales price for the month of September checked in at $468,000 a slight decrease from last month of $476,000.

If you know of anyone looking to buy, sell or invest in our neighborhoods please reach out, also I am happy to talk about your property value  – contact me anytime!

August 2021

August Market Stats

As summer winds down, the real estate market in our combined neighborhoods of Mcferrin Park, Cleveland Park, and Highland Heights continues to be hot.

We had a total of 16 homes close with a median list price per foot of $287. This is one fewer sale than last month, but get a load of this…. the median SALES price per foot was $314.

The median days on market was 4 days and the contract to close checked in at 30 days. There are currently ONLY 13 active properties if you are searching for a home in Mcferrin Park, Cleveland Park, and Highland Heights. Our average sales price was up drastically from July (425K) to $476,075. This average sales price number represents a 27% increase in home value over this same month last year.  Wow, that means your home may have increased in value by over 25%! What is your home worth? Send me your address and I’d be happy to let you know.

Also, if you know of anyone looking to move to our area – please connect them to me, and if you’d like to discuss anything real estate-related – pleae give me a call!

July 2021

The July numbers are in and it was another great month for real estate in our combined neighborhoods of Mcferrin Park, Cleveland Park, and Highland Heights.

As is typical for our market in the summer, there were a bit fewer closings, so we are checking in at 17 closings in the neighborhood total for July 2021.  The median list price per foot was  $290 per foot in July. This represents a 14% increase over this same month last year.

Our median days on market have been holding steady at 2 days for the past three months, which means that homes are selling within 2 days of going on the market. This represents a 1000% decrease over this same time last year where homes were staying on the market for an average of 22 days before going under contract. In short, homes are going under contract QUICKLY and over their asking prices.

Also supporting this statement is the average sales price to list price percentage – at 101.03% We currently have 18 active properties and 55 pending sales. Our average sales price was down slightly this month and checked in at $435,771 (compared to June at $472k).

If you or one of your neighbors is ready to buy or sell, please let me know. Or, if you’re interested in refinancing your house or taking out a home equity line of credit let me know as I have some wonderful contacts for that.

See you next month!

 

June 2021

Hey neighbors, the numbers are in for our real estate update for the combined neighborhoods of Mcferrin Park, Cleveland Park, and Highland Heights.

We had an increase in total properties closed from 24 in May to 36 in June.

Our median list price per foot and sales price per foot were 277/285.  This means that on average, homes are selling for OVER the listing price.  The average sales price to list price ratio also supports this – clocking in at 102.39%.

Our Median days on market for last month were two days.

There are currently 10 Active properties if you know of someone looking to move to our area.

The average sales price increased to $472,314 in June ( from 434K in May).

Thanks for checking out the numbers for the neighborhood, see you again next month!

May 2021

Happy Summer Neighbors!

I am checking in with the real estate market states for May 2021 for our combined neighborhoods of Mcferrin Park, Cleveland Park, and Highland Heights.

The average property sales price has increased by $43k from May 2020 ($390,655) to May 2021 ($434,402).

For the month of May, our McFerrin Park, Cleveland Park, and Highland Heights saw a total of 24 homes change owners. That is significantly less than the 39 we saw in April. The median list price per square foot was $267 and that mirrored the median sales price per foot. Both of those numbers increased from the previous month.

The median days on market are down to two days. T-W-O days!

Our median time between contracting the sale to closing things out is 37 days with an average sales price to list price ratio of 100.82%. That last statistic means that houses on average are selling for 100.82% of their asking price. 

There are currently seven options for properties if you’re looking to buy in In the neighborhood. The 67 pending properties represent 10 more than last month.

The average sales price for Mcferrin Park, Cleveland Park, and Highland Heights was $434,402.

Comparing May 2021 to May 2020, there are 7 active homes in inventory for purchase (May 2020 there were 31).

Home values in our area are at an all-time high. If you are considering options for that equity – moving up to a larger home, moving out of town, or investing – give me a call and we can discuss your options.

See you next month for real estate market statistics for Cleveland Park, McFerrin Park, and Highland Heights!

April 2021

It’s MAY y’all and the real estate market is booming!

We had a total of 39 Closings for the month of April – representing a significant increase from the previous month (March had just 17 closings comparatively).  Our median list price per foot and median sales price per clocked in at 263/ft.

Median days on market was 3, and median contract to close days checked in at 29, and there are currently 57 pending properties in the area.

Our average sales price for the combined neighborhoods of Mcferrin Park, Cleveland Park, and Highland Heights was $451,410.

If you are thinking of selling, homes are selling with record sales so there are no cons in getting a free home estimate to see what your home may be worth. Let me know if you’d like me to check your home’s value. Again, the median days on market is a whopping 3!

If you’re considering buying, I would encourage you to look at these historically low mortgage rates, you could have even more buying power than you thought. Let me know if you’d like to be connected to a lender to see what you can qualify for!

See you next month for real estate market statistics for Cleveland Park, McFerrin Park, and Highland Heights!

March 2021

It’s FINALLY beginning to feel like Spring!

Before we get into the numbers, the neighborhood yard sale is coming up on 4/24 (and signups end on 4/19) so be sure to sign up if you are interested in either hosting a yard sale OR receiving a map.

On to the numbers! For the month of March, our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights had 17 closed properties. Even though we have limited inventory, this represents an increase over last month (but only by one closing)

Our median list price and sales price per foot checked in at an impressive $251.

Median Days on market was 3, and the median contract to close was a brief 32 days.

There are currently 6 (SIX) active homes available for purchase.  That’s HALF as many as this same time last month. There are 64 pending homes.

Our average sales price checked in at $446,906, so call me if you’re thinking about listing, I’d be happy to take a look and see what your home may be worth.

There is a national shortage of homes for sale.  If you are considering a move, now is the time and I would be happy to help you make a plan!

February 2021

Happy March! 

I am checking in with the February real estate market information for our combined neighborhoods of Mcferrin Park, Cleveland Park, and Highland Heights.  For our area, there were 16 total properties that closed in the month of February with a medium list price per foot of $231 per foot. The median sales price per foot checked in at $232 with median days on market a short two days!

The average sales price to list price ratio in the combined neighborhoods was 100.24% meaning that many homes are selling over their listing price.

If you are looking to purchase in the neighborhood, there are currently 12 active homes to choose from as of the time I am writing this.

Fifty-one homes are scheduled to close and are marked as pending in the multiple listing service.

The average sales price for the neighborhood is $462,664. This is up 24% from February of last year!  This means if you purchased only one year ago, you should expect an average value increase of 24% – that is quite a bit of appreciation, and we are beating most of Davidson county on this metric!

If you know of anyone looking to buy or sell in the neighborhood, or if you are interested in discussing your property value please let me know.  I am happy to do a property assessment to let you know where you stand against current market conditions.

I’ll be back next month with more market statistic information for the neighborhood!

January 2021

Can we all agree that February is the official beginning of 2021? I feel like the holiday fog has finally lifted and the real estate market is ON FIRE!

In our combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights there were only 16 closings for the month.  This is down from 37 in the month of December and is indicative of our EXTREMELY limited inventory (homes available for purchase)

The median list price per foot checked in at 243/ft and the median sales price per foot was 234/ft. Average sales price to list price ratio was 97.34%

Our average sales price dipped a bit from the previous month to 394K       ( this is not surprising due to the limited inventory – less sales, less numbers to average)

Interesting fact – when comparing January 2021 to January 2020 – there is a DECREASE of 85% in inventory and an increase of pending properties by 41%

I’ve been saying this for months, but IF YOU ARE CONSIDERING SELLING NOW is a fantastic time.  If you are a buyer in this market, the inventory is limited BUT INTEREST RATES ARE HISTORICALLY LOW!

December 2020

The December numbers have been calculated and our combined neighborhoods of Mcferrin Park, Cleveland Park and Highland Heights finished the year strong!

Our average sales price for the month of December was $414,716K. This represents an increase from November and a 10% increase year to date.  This means that if you have owned your home for a year, on average, its value has increased by 10% – compared to an average 5% appreciation in Davidson county.

Our close properties checked in at 37, median list price (240/ft) and median sales price (241/ft) both increased over last month.

Median days on market was ONE (1) day and contract to close took an average of 19 days.  At the time of this writing, there are only 18 active properties for purchase in our neighborhood.

With interest rates remaining low, and inventory also remaining low the first quarter of 2021 should yield similar market conditions.

Happy new year!

November 2020

It is finally time for the November 2020 market stats update! This month we had 20 properties close in the combined neighborhoods of Cleveland Park, McFerrin Park and Highland Heights. The median list price per square foot was $218 with the median sales price per foot at $217. Both of those numbers are about $10 a foot less than the October numbers .

The median contract close days is 34 days.

The average sales price list price ratio is 98.87% meaning that homes are selling at very near to the listing or asking price. There are currently 22 active properties in our neighborhood; a decrease in inventory from last month when there were 29 homes available for sale.

The average sales price in the neighborhood is $395,265 representing an increase over last month.

In summary, the inventory of available homes is down 10% over the same time last year,

Current pending properties are up 46% year to date over last year and the average sales price is up 21% over last year at the same time.

The interest rates are still historically low creating a huge demand for properties in our specific neighborhoods.  

If you know of anyone looking to buy or sell, I appreciate you referring them to me!

October 2020

Well it looks like I’m not alone this month in counting numbers!

The market is still very hot for our combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights. 

The total number of closed properties for the month of October was 32 and that is up significantly from last month which checked in at 23 total properties closed.

The median list price and median sales price are down slightly to $228 a foot for the median list price and $225 a foot for the median sales price. 

Our median days on market is still very fast at two days with a 34 day contract to close period.

The average sales price to list price ratio is 99.71% meaning that if properties are priced appropriately they are selling very close to list price. 

There are currently 29 active properties on the market as of this writing and 38 pending properties. The average sales price for our neighborhoods is up from last month and checks in at $393,218.

September 2020

The September sales numbers for McFerrin Park, Highland Heights and Cleveland Park are in!

We saw a total of 23 closed sales with an average sales price of $385,452!

Though the total number of sales decreased slightly from last month (August 27 closed properties), the average sales price was an increase of around forty thousand dollars over the same month last year.

This metric is a reflection of our current inventory shortage in the area, as there are more buyers than homes that are for sale.

There are currently 26 active properties and 51 pending sales as of today’ s date.

Our median sales price and list price per foot has increased to $258/ft, which is always great news for sellers!

Sign up for the community trick or treat – https://docs.google.com/…/1FAIpQLSctVYnojQgbnR…/viewform

August 2020

For the month of August, our combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights had 27 closed homes with a median list price per foot of $250. Those homes are closing with a median sales price per foot if $246 (so very close to the asking price in most cases).

The median days on market is 4.

Our inventory (homes available for purchase) is very limited in middle Tennessee but specifically in our neighborhoods. With only 30 active listings and 52 pending sales (at the time of this writing) this tight inventory trend should continue.

Average sales price for August was $348,889

July 2020

The summer real estate market is in full swing! Our numbers for the month are finally in!

For the month of July we had a total of 30 properties that closed in our neighborhood. This represents an increase from last month AND we are up 37% from the same month last year. 

Our median list price per foot was $249 and the median sales price per foot was $242. The median days on market is a quick 22 days with 36 days between contract and  closing. 

The average sales price to list price ratio is 98.4% down just a little bit from last month.  We are still in a very strong market and properties are closing near to their listing price.

If you know of someone looking to move into the neighborhood, there are currently 20 active properties on the market. We have 46 pending properties currently, so closings for the next month should show an increase.

Average sales price for the month of July is $341,000.

June 2020

The June numbers are in, and it was another exciting month for real estate in our neighborhoods. 

We had a total of 24 closings last month representing a 21% increase over last year!  

Our median list price was 241/ft and median sales price was 237/foot. This indicates that homes in our area are closing very close to the listing price (list price to sales price ratio is 99.71%) with a quick median days on market of 6 days. 

Our average sales price for the month was $350,425 and there are currently 23 active properties. The inventory of homes available for purchase has decreased 35% from this same time last year!  Prices are steady, inventory is limited and interest rates are great!

If you would like to discuss your home value or know of anyone looking to buy or sell, reach out!

May 2020

Though the typical Spring market boom was a bit delayed this year – I am happy to report that the real estate market is in full swing!  

In our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights we saw an average sales price increase to 390K for the month of May.  The total number of properties closed was up one ( to 16) and the median list price per square foot was up to $229/foot.  

If you are looking to list your home, price it well and start packing.

You should expect a quick contract as our median days on market were a short 6 days.  Homes are also contracting very close to list price ( 96.35%). 

Currently, there are 31 active properties (options to purchase) and 47 homes pending (awaiting closing) on the multiple listing service.

If history serves, I expect this upward trend to continue for the month of June and throughout the summer.

Inventory is low, interest rates are low, and prices are steady.  If you would like to discuss the current value of your home or know of someone who is looking to purchase – I would love to talk with them!

April 2020

April was another strong month for real estate sales in our combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights.

There were 15 closed properties in our neighborhoods. The median list price and sales price per foot was $213. We had a median 6 days on market, so still a very quick transaction during these crazy times. The median contract to close days was at 31,  that went up just a little from the previous month, which is to be expected.

The average sales to list price ratio is still very strong at 99%.   Meaning properties are selling at or very close to what they’re asking prices are. There are more active properties this month than last.  This month there are 30 total active properties.  There were only 21 active properties in the month of March.

There are more pending properties this month compared to last.  April has 37 properties that are waiting to close out.  For the month of March, there were only 32.   The average sales price was $381,193 which is a significant increase from last month!

If you know of anyone looking to buy, sell or chat about real estate in our area please send them my way!

March 2020

For the month of March, our real estate market for the combined neighborhoods of McFerirn Park, Cleveland Park and Highland Heights is holding strong. We saw a total of 16 closed properties during the month – down just two from the month before.

The Median list price per foot AND the median sales price per foot checked in at /foot. Our median days on market was a quick 8 Days. Houses are closing escrow on average after 28 days.

The average sales price to list price ratio was 98.48% – meaning that homes are selling at VERY near the asking price.

There are currently 21 active homes for sale in our neighborhood – so if you know of anyone looking to buy or sell please send them my way!

February 2020

For the month of February, our combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights had 18 total properties close.  That was up 8 homes from the previous month and up 7 from this same time last year.

Our median list price per foot was at 233 with the median sales price per foot clocking in at 228/foot.  Median days on market is at a solid 30 with average sales price to list pice at 98%. 

If you are looking to purchase a home in the neighborhood, you have 32 options (current active properties).

There are 39 pending sales for the month, so I expect our total number of closings to increase next month and as we head into the Spring market.

January 2020

Happy February!  I hope you all were able to enjoy the beautiful weather this past weekend.  I am particularly excited that the groundhog did not see his shadow and that we are on track for an early Spring.

During the month of January, we had a total of 10 properties close in the combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights.  This is down from December and down 3 from this same month last year BUT rather than indicate a market slow down, I think it is a function of inventory (or available homes on the market). For January of 2020 there are currently 24 active properties (down one from December and down 12 from January 2019)

The median list price per foot edged up to $242/ft and median sales price was down slightly to $234/ft and our average sales price to list price ratio is still very strong at 99.76%

There are 27 pending properties currently and the average sales price for January 2020 was $364,500.  If we look back to January of 2015, the average sales price for our area was $234,700.  This means if you’ve been in your home for around five years your property has increased in value 55%!

December 2019

Happy New Year!  I can hardly believe its finally 2020.  Let’s take one more look back at the month of December 2019 and review the real estate statistics for our combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights.

A total of 19 homes closed last month – down slightly, from November, but right at the October/November numbers.

Median list price per square foot increased to $240/foot and median sales price was also up at $241/foot.  Median days on market is a quick 8 days while contract to close days are holding at 32.

Properties in our neighborhood are selling at an average of 99.10% of the asking price.  With 25 currently pending properties, we are still seeing abundant and fast activity in our neighborhood.

Average sales price for the month of December was $305,822.

If you are curious about the current value of your home – click here.

November 2019

The holiday season is in full swing and the November, 2019 market statistics are in. Our combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights posted a total of 22 homes closed within the month of November – an increase from 17 in the previous month of October.  The median list price was down slightly this month to 222 per square foot, and median sales price was also down to 207/foot. 

Median days on market for the month of November was 26 days.

Homes are still selling quickly and buyers are paying very near asking price – a good sign for our community!

Average sales price for November was $312,000

Enjoy the holiday season – and I’ll check back in with you neighbors in the new year.

If you are curious about the current value of your home – click here.

October 2019

Welcome to Fall!  It took forever to get here, but the numbers for October are complete – let’s dig in.

In the month of October, our combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights saw a combined 17 total closings.  This is the second consecutive month of a decline in total homes closed.  The median list price and median sales price per foot both decreased slightly too ( at 225/ft and 214/ft)

The market is still moving quickly in our neighborhood with a median of 5 days on market and a quick median 27 contract to close days.  If you are shopping for a new home in Cleveland Park, McFerrin Park or Highland Heights, you have 29 active properties to choose from.  Average sales price was slightly down to 319K.  With the favorable interest rates and limited supply of homes on the market, I expect steady market numbers next month.

 

If you are curious about the current value of your home – click here.

September 2019

For the month of September, Cleveland Park, Highland Heights and McFerrin Park saw a total number of 18 homes closed. This was down 10 from the previous month (August), but the median list price per square foot and median sales price per square foot both increased! So if you’re looking to purchase a home in the neighborhood, you have a list choices comparatively to previous months.

Median price per square foot was $239, and median sales price per foot was $244 per foot. This indicates that some homes are selling above the asking price. That is also evidenced by our average list price to sales price ratio at 100% (it has been hovering just below 100% for the last several months). Currently there are 40 active homes in the neighborhood listed for sale and there are 27 pending homes.

The average sales price in the neighborhood for the month of September was $333,000! If you have friends or family looking to move into the neighborhood, please reach out to me (Nick Irwin with Village Real Estate)!

August 2019

The twenty eight homes that closed in August were even spread across the neighborhoods of McFerrin Park, Cleveland Park and Highland Heights.  Wait, read that AGAIN – 28 homes.  We have not witnessed that many total closings in a month in all of the time I’ve been reporting to you all (over 4 years!). This is a testament to the increasing desirability of our neighborhood, solid housing stock and historically low interest rates.  These numbers were so elevated that we had to check our work – twice!

Our median list price per foot was down slightly to 214 and mirrored the median sales price per foot for the month.  The average contract to close days is a quick 28 days.  Homes are still selling at very near asking price (sales price to list price checked in at 99%)

There are 56 properties pending in McFerrin Park, Cleveland Park and Highland Heights.

Average sales price for the month of August was $341,975

With talks of a slowing economy AND historically low interest rates, now is a great time to sell or refinance.  If you are planning to do either – Please give me a call!

July 2019

The real estate market was stable for the month of July, the month closing out with 19 (same sales as we had in June).

The median list price per foot retracted slightly to 236 mirroring the median sales price per foot.  Homes are not staying on the market very long in the neighborhood – a quick 35 days from contract to close.

Inventory is holding steady at 31 active listings. 

With the recent drop in interest rates, now is a fantastic time to purchase OR examine your equity for refinancing.  If you’d like more information about those options – give me a call!

 

June 2019

The summer real estate market is in full swing in our combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights. Inventory is down again  this month and has been shrinking for the last three months running.  

With only 31 active homes for sale, this means that home buyers have LESS options that at other times during the year.  For home sellers, this means that there is less competition and can drive higher prices for premium properties.  The median list price per foot was up to 241 and median sales price is at 238 per square foot. This means that homes are selling at very close to the asking (listed) price and that there is not much room for negotiating in most cases. Homes are generally changing hands (or closing) in 39 Days. The average home sale price in our neighborhoods for the month of June was $383,000.

THIS IS IMPORTANT – SO READ IT….  Rates are crazy low right now so it is a fantastic time to purchase home;  but  It is also a great time to re-evaluate your mortgage.  If you bought your home in the last 2-5 years you may have significant equity (remember that equity is the difference between your homes fair market value and the outstanding balance of all liens on the property). Why is equity cool? You can potentially remove PMI (primary mortgage insurance), refinance to a shorter loan term (form 30 to 15 years) or use that equity to fund home improvement projects or investment goals.

If you’d like to talk about real estate (or anything, really) reach out!  

May 2019

Schools out for the SUMMER and no one told all of those folks moving to Nashville! Our micro market of McFerrin Park, Cleveland Park and Highland Heights is still going strong!

We checked in with an impressive 23 properties closed for the month of May; the most closed homes year to date!

Median list price and sales price per foot both decreased slightly to 229 and 227 respectively.  

Inventory shrank to 32 homes – meaning that buyers in this area have less options to choose from. There are currently thirty six properties in pending status.  

I have several off-market opportunities, so if you know of anyone looking to purchase a home in our area I would appreciate you send them my way.  

If you are interested in more information about your property value, click here for a free assessment of your home value.

View East Nashville homes for sale here!

April 2019

.April 2019 Market Stats!

The Spring market is in full force in Davidson county and our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights have sprung back to life!  

Though the total number of closings was down (slightly to 15 from 18 in March) the median list price and sales price  increased drastically.  

Inventory has increased slightly from the renovation backlog and currently there are 43 active properties (#choices) on the market for buyers.  Average sales price increased to 346,870. 

I had the honor of representing the sale of the MOST expensive residential property to change hands (to date)  in our neighborhood,  Closing in April,  818 Meridian is quite the McFerrin Park jewel, and has lovely new owners.

Welcome to the McFerrin Park!

Nick Irwin

615-418-0563

March 2019

.
SPRING IS HERE! The interest rates were down and market activity shows it!
Last month we had a combined 18 properties that closed – compared to 11 in the previous month.

Though the total closings were up, the median list price and sales price had retreated just slightly.  Inventory is edging up – meaning home buyers have more properties to choose from.  
As the weather warms, our market in Cleveland Park, McFerrin Park and Highland Heights typically heats up too!
If you are interested in more information about your property value, click here for a free assessment of your home value.

Nick Irwin

615-418-0563

February 2019

Holy Smokes – February brought the real estate market roaring back to life after a few months of the normal seasonal slowdown.  Our combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights saw 19 properties close for the month of February.
The median list price per foot increased to 233 meaning that sellers are asking more for their homes.  Our median sales price per foot declined to 233/foot.  Median days on market shrank to a quick 19 days.
If you are looking to buy a home in the neighborhood, there are 48 active listings as of this publication.
Most of the selling activity was concentrated in Highland Heights last month.
Average sales price for the neighborhood was $281K
So, In Summary:
1. Asking prices are going up.
2. Sales prices pulled back slightly.
3. Homes are still selling fairly quick.

January 2019

2019 is off to a good start for real estate in our combined neighborhoods of Cleveland Park, McFerrin Park, and Highland Heights.

A total of thirteen properties closed in the month of January 2019 – the exact same number as in January 2018.  Our Median list price per foot was $228 per foot and sales price was $214 per foot.  Properties are staying on the market just a bit longer as reflected by the median days on market; up to 51 for the month.  Average sales price for the month of January was $315,761 (average sales price for January 2018 was $288,032)

What does all of this mean?

1. If you purchased a home in the neighborhood only one year ago, you could be sitting on some serious equity – good job!

2. If you are looking to purchase a home in the neighborhood, homes are selling at 97% of list price and within two months.

3. If you are looking to list your home in the neighborhood, there is little competition and homes are selling quickly and for very close to asking price.

December 2018

2018 was a great year for our neighborhood, and I am working on compiling all of the data for a comprehensive review.  But first, lets take a look at the final month of 2018.  In December, the total number of closings was down to a yearly low of 12 total closings.  We also saw this number in April.

Median list price and sales price per foot are holding steady at 203 and 204/foot respectively.  Median days on market has edged up to 26 and the sales price to list price percentage has dropped to 95%.  This means if you were a home seller in December, your property was on the market slightly longer than the rest of the year and there was more room for buyer negotiations.  Headed into 2019, we can expect an increase in inventory AND if interest rates hold steady, I believe we will see a sharp uptick in the market around February/March.

In development news, Red Headed Stranger is planning to open sometime this year at the corner of Meridian and Arrington, I am excited for this addition to area.  If you are looking to buy or sell in McFerrin Park, Cleveland Park or Highland Heights – give me a call! 

November 2018

The holidays are here and my gift to you is a comprehensive review of our neighborhood real estate stats!

In the month of November, we saw a decrease in total closed properties, sales price per foot and sales to list price %.  This is somewhat seasonal, but is also an indicator that the real estate sales market in our little corner of Nashville is slowing down, but is VERY healthy.  If you are looking to sell your home, expect it to be on the market an around a month; and expect to receive offers very close to asking price.  This is assuming you have priced the property correctly and that it is in average condition.

Our highest priced sale for the last 30 days was 908A Lischey. – checking in at 228/ft. This new construction home by INVENT/Building Masters boasted over 2000 feet with 3 bedrooms and 2 and a half baths.  Ann Small at Third Coast was the listing agent and Johnny Gleaton from Parks brought the buyer.

Welcome to the neighborhood!

Remember the McFerrin Park Holiday party is hosted by Catherine Walker and Adam Vollrath at 322 Wilburn Street on Saturday, December 8th from 4-8.  Come join us!

October 2018

For our combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights, the total number of real estate closings were up three from previous month bringing the total homes closed to 17.  

The median list price per square foot and median sales price per square foot are both down for the month.  This, coupled with an increase in median contract to close days (up to 34 from last months 30) we are seeing a bit of a slowdown in the neighborhood.

Our inventory (homes available for purchase) is up to 62 for October, compared to 26 in September.

September 2018

September saw a slight cooling of temperatures AND the total number of closed real estate transactions.  Down for the second month ( though only slightly); McFerrin Park, Cleveland Park and Highland Heights saw 14 closed transactions for the month of September.  Though there was one less sale, the median list price and sales price per foot have both continued to increase and the median days on market are down.  This means if you are looking to sell, homes are selling quickly and for very close to the listing price.  Our average sales price for the combined neighborhoods was $353,550 and there is currently a healthy inventory of 56 active properties. If you know of anyone looking to make a move into our neighborhoods, please send them my way. I have an inventory of several homes that are not yet listed on the MLS that I would be happy to share!

July 2018

WOW!  Our neighborhoods saw a drastic increase in closed properties for the month of July.  The combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights had a total of 26 homes close for the month of July (up from only 18 in June)  In other good news, the median list price and sales price both increased from June to July.  The median days on market nearly doubled; meaning that houses are taking longer to close and could be an indicator of a normalizing market.  Pricing is holding strong with CORRECTLY PRICED homes still closing at 97% of the asking price.  If you are looking to move to our neighborhood, there are currently 58 homes listed – and I would be happy to help you locate the perfect one.

June 2018

The market is showing signs of a slight cooling in the areas of McFerrin Park, Cleveland Park and Highland Heights.  Our total properties closed was down 7 homes to 18 total closed homes for June.  The Median list price per foot and sales price per foot also decreased slightly.  Though the market is still very strong in our neighborhoods, this trend should be monitored closely if you are looking to sell your home in the near future.  Median contract to close days is still a very quick 34 Days and correctly priced properties are selling at 98% of the asking price.

If you know someone who is looking to move into the neighborhood there are 48 available properties at the time of this post in the combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights .  I have had my eye on several beautiful renovations in the area and am excited to see those come on line.

May 2018

Along with the temperature, the real estate market heated up for our neighborhoods in May!   Twenty-Five total properties closed in the last month in comparison to only Twelve for month of April.  While this is a significant increase in closed properties, it was expected for the season.  Contributing to this upswing, we saw a bit of new construction inventory finally hit the market and close during this past month. The median list price and sales price per square foot were $199 and $201 respectively still holding strong. The median contract to close days is a quick 29 days and properties are selling at 98.66% of the listing price – indicating a strong sellers market for our neighborhoods. 

The average sales price was up significantly to $317,300 for the month of May.

If you know someone who is looking to move into the neighborhood there are 54 available properties at the time of this post in the combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights and the current upswing continues, June should be a fantastic month for real estate in our neighborhoods.

April 2018

In the month of April, our area saw a slowing of closings yet again.  Down 5 transactions from March, we had a total of 12 proerties close in our neighborhoods during May.  Though its hard to believe now ( with our sudden smoldering heat wave) I think the prolonged winter and school holidays have us off track.  May is already shaping up to be a banner month.

Our list price to sales price ratio is holding strong at 96.29% – this means that properties are selling, on average, for 96% of the listing price.  This is a sign of a strong market with correctly priced homes and a really good sign if you are looking to sell.  If you are considering purchasing a home in our neighborhood, this is an indicator that there may not be much room for negotiations.

Our highest priced sale of the month goes to the beautifully renovated home located at 311 Hancock.  Closing out at $520,000 ( $238/ft) this beauty was really something to see.  It also sold PRE MARKET kudos Village agents!  The listing agent described the property as “Renovated Bohemian Victorian around the corner from Folk, and close to Downtown and Five Points. Incredible kitchen with huge quartz island and soft close cabinetry. Master on main with lavish clawfoot tub and beautifully tiled shower. Hardwoods throughout, restored and recreated detail, elegant fixtures and tile. Large backyard with privacy fence.”

Speaking of “Folk“, the long awaited McFerrin Park centerpiece restaurant by Rolf and Daughters own Philip Krajeck is delightful.  Here is a writeup by Eater Nashville ( and it includes beautiful interior photography)

November 2017

Down 15 homes from last month, there are currently 41 properties for sale in our neighborhoods of McFerrin Park, Cleveland Park and Highland Heights.

Total November sales declined from 17 last month to 14 this month.  Historically, the real estate market cools during the months of December and January so this should not cause too much concern.

Sales were concentrated mostly in Highland Heights and Cleveland Park with only one property closed in McFerrin Park.  The single McFerrin Park sale was the beautiful renovation located at 227 Treutland Avenue.  Listing agent Adam Gleaves boasts  “STUNNING REHAB – 1920s home, converted from tri-plex back into single family home with custom, upgraded finishes. Downtown views. Covered outdoor spaces! So close to major highways, parks, downtown, TopGolf, etc. This area is booming!”  After a legnthy renovation, the home contracted and closed after only 37 days on the market for a price of $620,000.  Recent records indicate that this is the MOST expensive home that has sold in our neighborhood.  Second place goes to 300 Hancock St which closed in January for 505K.  Both properties are located in McFerrin Park!

Only two dollars separate the median listing and median sales price; meaning that correctly priced properties are selling for very close to the asking price.

With the updates coming to the Meridian Street corridor (Roxy Theatre, McGavock House, and the old Jack Ward building) 2018 is poised to be a very exciting time for our community!

October 2017

As of today, there are 56 properties for sale in our neighborhoods.  The real estate market is slowing down for the year, there is more inventory and houses are taking longer to sell.  However, the market is is still strong and it is a great time to buy or sell in Nashville.

October sales were up just one from last month for a total of 17 homes sold for the combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights.

Sales were spread evenly throughout Cleveland Park and Highland Heights with McFerrin Park trailing behind.  The most expensive home closed in October was 1320 Stainback – check out the interior pictures – it closed on 10/24 at 399K after only 7 days on the market!

The honorable mention is 227 Treutland in McFerrin Park that went under contract this month.  I am anxiously awaiting the closing for this one! The guys at Building Masters did such a beautiful job with the renovation.  Browse inside here.

The Median list and sales price are very close, meaning that properties are selling for almost asking price.

September 2017

As of today, there are 46 properties for sale in our neighborhood.  Though the real estate market is slowing slightly, now is still a great time to buy or sell in Nashville.

September sales were up three from last month for a total of 16 properties closed in the combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights.   The majority of real estate sales were concentrated in Cleveland Park; and our most expensive sale for September was 1117 N 7th Street closing out at $459,900 (take a peek at the interior pictures here)

The Median list and sales price are very close, meaning that properties are selling for almost asking price and with only 7 days listed on the market.

Mortgage rates have recently dipped a bit, so if you are considering selling or refinancing, its a good time to proceed.

August 2017

During August, we saw another healthy real estate sales market in our neighborhoods of Cleveland Park, McFerrin Park, and Highland Heights.

Our total closed properties was down just one home form 13 in July.  The Median list and sales price are very close, meaning that properties are selling for almost asking price and with only 12 days listed on the market.

Mortgage rates have recently dipped a bit, so if you are considering selling or refinancing, its a good time to proceed.

July 2017

The month of July was an active one for our neighborhoods of Cleveland Park, McFerrin Park, and Highland Heights.

June 2017

The month of June was an active one for our neighborhoods of Cleveland Park, McFerrin Park, and Highland Heights.

May 2017

The month of May was an active one for our neighborhoods of Cleveland Park, McFerrin Park, and Highland Heights.

April 2017

April was an active month for real estate sales in our neighborhoods of Cleveland Park, McFerrin Park, and Highland Heights.

March 2017

The month of March was an active one for our neighborhoods of Cleveland Park, McFerrin Park, and Highland Heights.

February 2017

February was a great month for real estate sales in our neighborhoods.  A total of 19 properties closed during the month.  With fantastic skyline views and its close proximity to the park, my favorite new construction home located at 300 Hancock fetching a record setting $229 per square foot.

Median Days on market was down to 31 from 49 in January.

Median list price per foot is up to 188/ft ( from 174/ft last month)

Median sales price per foot checked in at 186/foot ( again up from 172 in January).

January 2017

The month of January was an active one for our neighborhoods of Cleveland Park, McFerrin Park, and Highland Heights with sales primarily focused in Cleveland Park.

The new construction home located at the corner of Meridian and Hancock was recently completed and is currently under contract.  Third Coast builders did a beautiful job with this property and I think it fits in to the existing neighborhood fabric beautifully. Click here to see inside.

I have several coming soon listings in the neighborhood, so if you are looking to make a move OR if you want the chance to choose your neighbor – call me!

December 2016

It is time for the final real estate review of 2016!  The December numbers are finally in, so lets take a look.

At the time of this writing, there were 40 properties active in the combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights.  During the month of December,  15 properties closed – down slightly from 17 last month.  I think this is due to the slight Interest rate rise last month; and it is historically a slower month for real estate sales.

Our neighborhood days on market checked in at 92 days.  This number represents the entire time a property is listed on the multiple listing service ( MLS).  This number was up from 47 in November but down from our October reading of 104.

Average list price per foot came in at 180, and the average asking price per foot was right at 171/foot.

November 2016

October 2016

Though other markets may be slowing down,  our combined neighborhoods of McFerrin Park, Cleveland Park and Highland Hights remain strong.  Our total sales for the month was more than double last month!

 

 

September 2016

Ten properties changed hands in the month of September, compared to TWICE that many in the August.  The median price per foot is at 160.71 and Median Days on Market was 71.

Most of the sales were concentrated in McFerrin Park this month