ANTIOCH, Tenn. (WKRN) — The median value for a home in Antioch has increased by about $90,000 over a five-year period, as the number of properties for sale has been cut in half, according to recent data from Zillow.
The real estate market website shows the median value for homes in the area defined by the zip code of 37013 has increased from $131,200 in April 2014 to $221,800 in April 2019.
The median home value in Nashville is more than $40,000 higher at $263,500.
“Antioch is a community of first-time home buyers,” longtime resident turned real estate agent, Tifinie Capehart explained. “I think when you start looking at what you can get for the money, you do get more square footage out here.”
“At $260,000/$270,000 in town, you’re probably looking at 1,200/1,500 square feet, maybe a two-bedroom, one-bathroom near the core of the city,” she revealed. “Out [in Antioch], for about that price, maybe about 2,000 square feet is what you might get: three-bedroom, two-bathroom.”
While the price difference alone can be enough to convince some to purchase in Antioch, Capehart said a major drawback of the area is the commute.
“Interstate 24 can be a bear sometimes,” she explained. “People don’t want to spend an hour each way commuting and so sometimes that changes the buyer’s mind about where they locate.”
Home sales in Antioch began an upward trend in April 2014, seeming to peak with nearly 150 for the month of April 2016.
A drop followed but last month, more than 110 homes were still sold in the area.
The number of properties listed for sale dropped significantly over the last five years.
In April 2014, there were about 575 listings, while in April 2017, that number fell to 120. The trend is headed upward again though, with about 280 properties listed for sale in April 2019.
The sudden resurgence in inventory, Capehart said could be in part because of so-called “zombie subdivisions,” which were approved for construction but are just now being built after a delay due to the recession.
“Now you’re seeing some new construction start. New houses are being built,” said Capehart.
She added there is a need in Antioch for more high-end housing with larger square footage, and she hopes that is what comes next for 37013.