#3 in the 37204 Series: The Lofty Failures. Every homeseller dreams of setting the record for a 37204 sale. In 2009, several homes tried to take the top spot, but simply couldn’t make it.
The most lofty attempts were seen at 746 Benton Avenue for $1.5M (which was pulled and re-listed 12 times by the agent, who coincidentally attempted the same high dollar prices in 37206), 891 Curtiswood Lane for $1.2M, 737 Benton Avenue for $949,000, 1127 Glendale Lane for $879,000 and 3900 Crestridge Drive for $879,000.
Analysis shows that buyers craving historic homes at this price point simply aren’t ready for 37204. In 2009, forty-five Davidson County homes built prior to 1930 saw closings above $500,000. Of those 45, forty-three were on the west side in Belle Meade, Historic Richland, Belmont and Green Hills. The remaining homes were in Madison and Whites Creek.
The Fallacy of Numbers. Sample numbers for 2009 are extremely small in several neighborhoods. Woodmont-In-Waverly registered five sales, Breeze Hill saw five, Rains Waycross saw none and Southmeade logged four. Waverly-Belmont has 11 homes in its sample.
Woodmont-In-Waverly’s average price came in a bit lower than previous years because of the limited sales, but keep in mind this is one of the smallest neighborhoods in Nashville.
MLS numbers only show less than 41 distressed sales in all of MLS Area 2 which includes 37204, 37203, 37212, 37205, 37215, 37209; so, chances of finding a short sale or foreclosure in this area is a tough mission. Note that 1281 homes closed in Area 2 in 2009 (see chart on next blog.)
As this is quite an in-depth report, please download the entire 37204 report here. It is 1.7 MB. Please be patient with it.
#3 in the 37204 Series
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