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VOL. 40 | NO. 36 | Friday, September 2, 2016

August offers promise of more $1M-plus sales

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A review of July sales in Realtracs shows that only three houses sold for $1 million or more during that month.

Additionally, many real estate agents representing upper-end homes were wailing and gnashing their teeth over the lack of showings.

One had gone so far as to rend her clothing over the market conditions, and there were rumors that others were even pouring dust on their heads.

This drought was of Biblical proportion.

Yet, their prayers have been answered, and the luxury home market has, at long last, experienced a miraculous turnaround.

In the first four weeks of August last year, there were only 16 sales in Davidson County of $1 million or more, according to Realtracs, with the most expensive sale reaching $2.3 million.

In the first 28 days of August this year, there have been 23 such sales and some of historical significance.

One historic sale is Bell Air Mansion, located at 2250 Lebanon Pike and situated on four acres.

This home is the sister home to both Belmont and Belle Meade plantations, according to listing agent Sheri Smith of Zeitlin and Co., Realtors.

Smith wrote that when construction of the home began in 1790, the property included 1,000 acres, and that the first mayor of Nashville lived there.

Of course, that mayor was not the mayor of Metropolitan Davidson County, as there have only been seven of those since metro government was adopted in 1962.

Venerable referee Tom Ritter, recently named to oversee the new instant replay in the Southeastern Conference, sold his Oak Hill home for $1,250,000.

This August’s highest sale has been $2,685,000, surpassing by $385,000 last August’s high sale.

In the heart of Belle Meade at 301 Westview, the house was listed by Amy Smith for $2,850,000.

In the past few years, the Belmont neighborhood – as well as Green Hills – has begun to boast sales numbers that rivaled or surpassed Belle Meade. Recently, however, Belle Meade has returned to the throne as affluent buyers make the pilgrimage to the land of milk and honey.

Another interesting sale occurred at 2305 Hampton Avenue, originally the farm of E.L. Hampton and home to Nashville’s first airfield, a 2,000-foot strip from which Nashvillians first soared into the heavens. This house sold for $1,375,000 with 4,000 square feet and a heated pool.

Sale of the Week

The sleepy little hamlet known as Hillsboro Village has joined the ranks of the million-dollar home sales, and 2510 Essex Place is a shining example of a high-end home in that area.

The main dwelling has 4,012 square feet with a mixture of restoration, renovation and new construction melded into sizzling fashion. Additionally, the property includes an 828-square-foot detached studio.

Scott Evans of PARKS and David Binkley of Urban Housefitters (Village Real Estate Services) co-listed the property.

The competent and reserved Evans has managed the sales in such projects as Bristol West End and the Icon in the Gulch and has fit an urban house or two in his storied career.

The duo listed the property for $1,350,000, and Courtney Cooper Jenrath represented the buyer.

Cooper is with Fridrich and Clark and manages a diverse portfolio of buyers who purchase homes in all of the trendy areas with prices trending upward.

She followed her Realtor mother, Missy Scoville, into the business years ago and has become a dominant force in the marketplace.

The Essex place property was last sold in 2015 for $450,000, and Evans and Binkley noted this is an “Amazing Britt development renovation of this HWEN (Hillsboro West End) classic with modern design and Period(sic) details.”

The main structure has four bedrooms, four baths, a tankless water heater and a grand owner’s suite.

The pair noted that they have high-end renovations coming soon. If you have an extra million or two, head on down to the Village.

Richard Courtney is a real estate broker with Christianson, Patterson, Courtney, and Associates and can be reached at richard@richardcourtney.com.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0