The Power Three

Geography, density and housing stock give Rosebank, Lockeland Springs and Eastwood Neighbors the edge as the largest market areas in 2009 in the 37206 zip code for single family residential homes.

Lockeland Springs (full neighborhood map)

Lockeland Springs’ sidewalks, historically-rich home and easy access to Five Points shopping and nightlife, have placed it #1 for sales in 2009.  The top dollar sale was at 1800 Russell Street for $420,000.  It wasn’t an easy road for this home to see closure.  It was first listed in July 2006 for $492,900, pulled from the market and relisted numerous times for as high as $509,850.  The final list price $439,900.

1305 Forrest Avenue is the crown jewel of 2009 for values in the neighborhood.  It brought the highest price of $212.14 per square foot, closing at $325,000 after an original list price of $359,615.  The home was represented by Brian Copeland of Village Real Estate.

Russell and Woodland commanded the highest price points while Forrest and Holly brought the highest square footage prices.

Overall, Lockeland Springs had 69 homes successfully see closing with an average square footage price of $126.  The median price was $227,500.  The average price was $232,409.

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It’s ranch heaven on the east side, and it’s affordability factor attracts buyers of all types.  1508 Rosebank Avenue was on mark to be a 2009 record setter listed originally for $499,000.  Amazingly, it also brought the highest price per square foot at $166.  (Again, represented by Village Real Estate.)

Homes on Rosebank Avenue on a whole received the highest price point.  The newer construction, resale homes on Beth Drive saw the highest price per square foot.  Sixty-one homes intersected with the closing table.  The average price was $146,168 with the median hovering closeby at $146,000.

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Eastwood Neighbors

Lockeland Springs has always had stiff competition in Eastwood Neighbors thanks to the similar architectural styles and the proximity to restaurants and shops.  1610 Franklin Avenue brought $380,000 and bragging rights as 2009’s big close.  While it closed a far cry from its $419,000 original list price, the 2009 economy wouldn’t cooperate with the goal price.  No surprise, Village Real Estate represented this home, also.

206 Chapel Avenue brought the highest price per square foot coming in at $197 per square foot.  Chapel Avenue as a whole proved to be the money street.  While it wasn’t the highest overall, Chapel saw the most homes in the top tier of sales.  Average price was $200,007 with the median at $181,900.

All The Rest

Of course, not all of the action happened in these three areas.  Noteworthy market spaces occurred in all the neighborhoods.  Historic East End’s top sale was at 1202 Woodland Street at $398,000, a far cry from its $545,000 original list.  The home fell into distress and ended up short saling in multiple offers at still an amazing deal.

906 Fatherland earmarked Historic Edgefield’s top value $385,500.  Shelby Village’s $234,900 513 South 12th Street won top price there.  Eastland Park received a huge spike with the sale of 1409 North 14th Street at $212,000.   One other highpoint was seeing a home in Neil S. Brown bring a record breaking $164 per square foot in multiple offers at 116 North 9th Street.

Download the entire 37206 report and many other.