Melrose Home Prices & Values

$314,300 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 7.8% 1-year change
  • 2.7% 1-year forecast

The median home value in Melrose is $314,300. Melrose home values have gone up 7.8% over the past year and Zillow predicts they will rise 2.7% within the next year. The median list price per square foot in Melrose is $228, which is higher than the Nashville average of $114. The median price of homes currently listed in Melrose is $530,000 while the median price of homes that sold is $315,956. The median rent price in Melrose is $1,499, which is higher than the Nashville median of $1,300.

Foreclosures will be a factor impacting home values in the next several years. In Melrose 9.9 homes are foreclosed (per 10,000). This is greater than the Nashville value of 5.8 and also greater than the national value of 4.4

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Relative ZHVI
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Melrose Market Overview

Data through Jul 31, 2014
  • $314,300 ZHVI
  • 2.7% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jul 31, 2015)
  • $530,000 Median listing price
  • $315,956 Median sale price (Jun 30, 2014)
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Melrose Market Health

Data through Jul 31, 2014
  • 9.0/10 Very healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average of days on Zillow
  • No data Homes with negative equity (18.8% US Avg)
  • No data Delinquent on mortgage (7.2% US Avg)

Homes foreclosed (per 10,000)

9.9 homes(Nov 30, 2013) Melrose
5.8 homes Nashville
4.4 homes United States
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Nearby Neighborhoods

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Bellmont Hillsboro $413,900    

Listings & Sales

Data through Jul 31, 2014
  • $228 Median list price / sq ft
  • $208 Median sale price / sq ft (Jun 30, 2014)
  • 6.2% Listings with price cut
4.3%
Sold below listing
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Melrose Rentals

Data through Jul 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,914 Melrose
$1,294 Nashville
$1,318 United States
  • 3.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • No recent data Rent list price
  • No recent data Rent list price / sq ft
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