#2 in the 37216 Series: The Power ‘hood. Inglewood proper owns this zip code and most of the numbers. While most who visit the area will tage the entire zip code as Inglewood, it’s important to break it down to understand values specifically. Fifty-three percent of all homes sold where located outside of the nine areas which have emerged as small communities, usually by their own residents.
Inglewood. 178 homes closed in 2009 with an average list price of $160,910. Sellers saw a healthy 96% of list price with an average sale price of $154,958. Obviously, its affordability index, convenience to everything from a Home Depot to trendy, little Riverside Village and 15 minute drive to Vanderbilt, downtown and most of Nashville’s hottest spot have attracted tons of first-time and affordable product buyers.
Sellers in Inglewood saw the second highest price-per-square-foot closing, however some would say tomayto-tomahto to the top price neighborhood, North Inglewood. As you will notice on the map, North Inglewood is an extremely small group of homesellers who created their own homeowners’ association for reasons not explained here. $101.84 was the average square foot price.
1200 Eastdale took the top price prize in all of 37216 with a closing price $410,000 from an original $445,000. While the home defied the “norm” in this neighborhood, its pool, generously-sized lot and top level renovation cause a quick closing. 1150 Ardee brought a whopping $191.94/sq ft. Apply the rule of the tiny home, this 831 sq ft Tudor-style, curb appeal grand slam has a contemporary IKEA kitchen, designer elements from floor to ceiling and a well planned backyard. It took 178 to close, but less square footage coupled with good finishing choices will typically find its market eventually.
South Inglewood. South Inglewood seems like a different part of the world when driving the streets. Since it is still in its renovation cycle, many of the 66 closed homes needed renovation or were purchased for investment potential. Still, massive homes at 1145 McGavock and 1115 Delmas were able to bring $269,000 each. 1821 Tammany joins the small trend and sets the 2009 square footage price bar, closing at $160.65/sq ft. While its a simple brick cottage, the interior is a mini-showplace with hardwoods and gourmet kitchen.
New construction homes, while a rare find, were built at 1608 and 1610 Branch Street and sold briskly and for an impressive price per square foot at $141.69.
Click on image for larger version.
All The Rest. Maplewood’s top closing was 1053 Gwynn for $192,000. Gra-Mar’s super contemporary 612 Maplewood brought another uncharacteristically high close at $270,000. The unique style’s scarcity in the greater Nashville area got it to the closing table for the unlikely neighborhood price. East Hill’s numbers were all over the place with 1016 Fairwin closing at full price for $299,900. Another Tudor style proved to bring top dollar, however its insides delivered high-end bang for the buck. Brush Hill’s 3833 Moss Rose closed for $248,000, giving it the highest close on the Cumberland River-side dream drive. Burchwood Gardens performed healthily with consistent closings in the mid-$100Ks. 1912 Rosebank brought the highest at $171,000.
This is part of a larger report. Download the full 37216 report here. (note: Home interior in the photo is currently on the market for two bedrooms, two baths with a one car garage and fenced yard for $99K in 37216.)
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