Chicago, IL (PRWEB) May 18, 2014
All 3 major counties of Nashville, TN experienced increases in both median home prices and sales in the 1st quarter of 2014.
Peoples Home Equity is pleased to share this news as it has 17 branch locations in Tennessee.
As shown on DQnews.com’s “Nashville Home Sale Activity” webpage, Davidson county which covers central Nashville, experienced a 16.6% year-over-year rise in in median home prices and a 14.1% increase in sales. The average median price in this area was $170,000 with 2,344 home sales.
Of the 26 zip codes recorded, only 6 areas experienced a year-over-year decline in prices and 8 areas in sales. The best performing areas of Davidson County were zip codes 37208 and 37080. Nashville zip code 37208 saw a 138% jump in prices and 76.70% increase in sales which were recorded from 76 home sales. Meanwhile, Joelton, zip code 37080 saw an 82.30% rise in prices and a 50% increase in sales which originated from 21 transactions. The zip code that saw the most housing activity was 37211 which experienced a respectable 33.33% rise in prices and a 24.5% rise in sales originated from 264 transactions.
Rutherford County, located just south east of central Nashville experienced a positive 11% rise in median home prices and smaller 3.4% increase in home sales. The average median price in this area was $149,500 with 1,441 home sales.
Zip codes, noteworthy of highlighting were Murfreesboro, 37128, with a 4.4% rise in home prices, but a 37.8% increase in sales. The Murfreesboro information originated from 478 home sale transactions. Eagleville, 37060, experienced a whopping 162.6% rise in home prices and an 18.2% rise in home sales, but this was recorded from just 13 home sale transactions.
Williamson County is located just southwest of central Nashville and bordering the west side of Rutherford. Overall the county experienced a 10.6% rise in median home prices and a 20.1% rise in home sales. The average median price in this area was $337,362 with 1,135 home sales. College Grove, 37046, experienced highest positive change in prices at 36.4% with an 11.8% rise in sales. Meanwhile, Thompsons Stations saw a respectable 17.7% rise in prices but a large 44.6% rise in home sales.
The Nashville area has performed very well over year and Peoples Home Equity expects the city to continue growing its real estate.
If interested in securing a competitive, lower rate mortgage in the Nashville area, consider speaking with a Peoples Home Equity loan officer today at: 262-563-4026.
Stay tuned as Peoples Home Equity will soon report the progress of other major cities in America for the 1st quarter of 2014.