East Nashville real estate is HOT right now. So hot, in fact, that the Eastwood neighborhood is ranked the 2nd hottest neighborhood in the country for 2016.
Here’s the real estate article that appeared in the Tennessean:
“East Nashville’s Eastwood named No. 2 hottest neighborhood in U.S.
An East Nashville neighborhood was named the second-hottest neighborhood in the country by a real estate firm.
Redfin, which bills itself as a next-generation real estate broker, predicted Eastwood would be the second hottest neighborhood for real estate in the country this year, just behind Chicago’s Ukrainian Village, based on affordability and charm, Redfin said on its website.
“It’s no surprise to see Eastwood as the second hottest neighborhood in the nation,” said Redfin agent Mel Priess in a release, “because it’s situated in East Nashville which is absolutely on fire! Eastwood is seeing tons of interest from millennials and investors, many of whom are buying homes and offering them as rentals on sites like Airbnb or VRBO. Eastwood offers residents a short commute to downtown and is a destination itself with places like 3 Crow Bar, The Nashville Biscuit House, Red Door Saloon, Jeni’s Splendid Ice Creams, The 5 Spot and The Pharmacy attracting people from all around Nashville.”
Redfin measured home views and likes on its website and talked with the firm’s agents to develop the list” Source: http://www.tennessean.com/story/news/local/livinnash/2016/01/29/redfin-names-eastwood-second-hottest-neighborhood-us/79522622/
The demand for real estate in East Nashville is high and the supply is low, which has driven property values in the area to appreciate quickly. The revitalization of the Historic Edgefield, hip businesses moving into 5 Points, and the proximity of the city has stimulated the entire area. As the revitalization continues to spread outward, more and more neighborhoods will experience the rising home values.
If you are thinking about purchasing real estate, investing in an East Nashville home could be a good choice.