Brookhaven, Cookeville, TN Homes for Sale

Brookhaven, Cookeville, TN Homes for Sale March 1, 2024
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Introduction to Brookhaven, Cookeville, TN Real Estate

Welcome to Brookhaven, a charming and increasingly popular area in Cookeville, TN. If you're considering a move or investment here, you're looking at a somewhat competitive market. With a mix of urban and suburban vibes, Cookeville is a city that offers a diverse range of living experiences. The real estate market here has a Redfin Compete Score of 40, indicating a moderate level of competition. In recent times, we've seen some homes receive multiple offers and hot properties selling for around their listing price.

Brookhaven Homes

What sets Brookhaven apart? It’s the blend of modern living with a touch of Tennessee’s natural beauty. The homes here cater to a variety of preferences, whether you're seeking a cozy single-family home or a spacious apartment. The architectural styles range from classic to contemporary, with many properties boasting upgrades and amenities that modern homeowners desire.

Key Market Statistics

  • Average days on market: Approximately 57 days.
  • Sale-to-list price ratio: Around 96.7%.
  • Homes sold above list price: About 10%.

Current Market Trends in Brookhaven, Cookeville

In the heart of Tennessee, Brookhaven's real estate market is a canvas of diverse trends and opportunities. Recently, the average home in Cookeville has been selling for about 4% below the list price and going pending in around 57 days. This trend reflects a market that balances buyer and seller interests, offering a fair playground for both.

Take, for instance, a few recent sales: a property at 738 Maple Point Dr sold for $492,000, 11% under its list price, after being on the market for 371 days. Contrast that with another home at 1084 Sugarhill Pl, which sold for its listing price of $475,000 in just 23 days. These examples highlight the variability in the market, influenced by factors like property size, condition, and location.

Snapshot of Recent Sales

  • 1909 Alex Ln: Sold for $353,900; 3 beds, 2 baths, 1,500 sq ft.
  • 7885 S Smith Chapel Rd: Sold for $238,500; 3 beds, 2 baths, 1,536 sq ft.
  • 824 Fisk Rd: Sold for $425,000; 3 beds, 2 baths, 2,164 sq ft.

The diversity in Cookeville's housing market is evident in these transactions. From cozy, medium-sized homes to more spacious and luxurious properties, Brookhaven offers a range of options to suit various preferences and budgets. Whether you are a first-time homebuyer or looking for an upgrade, this neighborhood has something for everyone.

Understanding Home Types and Sizes in Brookhaven

Brookhaven in Cookeville, TN, boasts a diverse range of home types and sizes, catering to various lifestyles and preferences. Single-family detached homes are the most common, making up 51.92% of the city's housing units. But that's not all – you'll also find a significant presence of large apartment complexes and high-rise apartments, accounting for 26.71% of housing. For those interested in a unique living experience, duplexes and small apartment buildings offer a distinct charm, comprising 16.51% of the housing market. And for those who love a more mobile lifestyle, a few mobile homes or trailers are available too, making up about 2.62% of homes.

Brookhaven Homes

Popular Housing Sizes

  • Three and four-bedroom dwellings are the most prevalent, mainly in single-family detached homes.
  • The city has a good mix of owners and renters, with 37.49% owning their homes and 62.51% renting.

Brookhaven Home Appreciation Rates: A Decade in Review

Brookhaven's real estate market isn't just about variety; it's also about growth. Over the last decade, the area has seen some of the highest home appreciation rates in the nation. This impressive growth is a clear indicator of Brookhaven's desirability and the sound investment potential of its real estate market. In the past 10 years, Cookeville real estate has appreciated by 112.63%, averaging an annual rate of 7.84%. This places Brookhaven in the top 20% nationwide for real estate appreciation. Such figures make it an attractive spot for both homebuyers and real estate investors looking for promising returns.

Recent Appreciation Trends

  • In the last year, the appreciation rate in Cookeville was 4.90%, aligning with or slightly above the national average.
  • The latest quarterly rate shows an appreciation of 3.43%, which annualizes to a rate of 14.42%.
  • Compared to other cities and towns in Tennessee, Cookeville's recent annual appreciation rate is higher than 60% of them.

Demographic Insights: Who Lives in Brookhaven, Cookeville?

Brookhaven, nestled in Cookeville, TN, is home to a vibrant community. With a population of 35,988, this area is a melting pot of diverse lifestyles and cultures. The city boasts 13,982 housing units, reflecting its growing appeal. The housing scene here is quite balanced with 37.49% of residents owning their homes, while a majority of 62.51% prefer renting. This mix of homeowners and renters adds to the dynamic nature of Brookhaven, making it an inclusive community for all types of residents.

Brookhaven Homes

Housing Composition

  • Single-family detached homes are the predominant housing type, representing 51.92% of the city's units.
  • Large apartment complexes and high-rise apartments make up 26.71% of the housing market.

Architectural Styles and Construction Trends in Brookhaven Homes

In Brookhaven, the architectural landscape is as diverse as its residents. The area has a significant number of homes built from 1970 to 1999, giving parts of the town a classic, nostalgic feel. These homes, often reminiscent of the 'Brady Bunch' era, represent a significant portion of Brookhaven's housing stock. Additionally, the city has seen a surge in housing development since 2000, with 29.18% of homes built in this period, showcasing modern architectural trends and designs.

The architectural styles in Brookhaven range from traditional designs to more contemporary constructions. Whether you’re looking for the timeless charm of older homes or the sleek appeal of new constructions, Brookhaven offers a blend of both worlds. The city's homes often come with various upgrades and amenities, catering to modern living standards.

Construction Periods

  • Homes built from 1970 to 1999, capturing the aesthetic of the late 20th century.
  • Modern constructions from 2000 onwards, reflecting contemporary design and amenities.

Price Ranges and Real Estate Value in Brookhaven

When it comes to real estate values in Brookhaven, Cookeville, there's a broad spectrum to consider. The median home value here stands at $314,767, indicating a market that caters to a range of budgets. Homes in Brookhaven cover various price segments, from more affordable options under $165,000 to higher-end properties valued over $1,000,000. This diversity in pricing ensures that whether you're a first-time buyer or looking for a luxury property, there's something for everyone in Brookhaven.

Distribution of Home Values

  • The majority of homes (40.2%) fall in the $165,001 - $329,000 price range.
  • A significant portion of the housing market also caters to higher budget ranges, with properties valued above $329,001.

Schools and Education in Brookhaven, Cookeville

For families considering a move to Brookhaven, the quality of local schools is often a top priority. The area is served by the Putnam County School District, known for its commitment to educational excellence. Schools like Prescott South Elementary School and Capshaw Elementary School, with GreatSchools ratings of 8/10 and 7/10 respectively, are testament to the area's strong educational infrastructure. These schools offer a blend of academic rigor and extracurricular activities, ensuring a well-rounded education for students.

Top-Rated Schools in Brookhaven

  • Prescott South Elementary School (PreK-4) - GreatSchools Rating: 8/10.
  • Capshaw Elementary School (PreK-4) - GreatSchools Rating: 7/10.
  • Other notable schools in the area include Cane Creek Elementary School and Algood Elementary School.

With a variety of educational options ranging from pre-kindergarten to high school, parents in Brookhaven can rest assured that their children have access to quality education. This factor not only enhances the community's appeal but also contributes to the long-term value of real estate investments in the area.

Climate's Impact on Brookhaven Housing

For prospective homeowners and investors in Brookhaven, understanding the local climate's impact on housing is crucial. Cookeville faces moderate risks from natural hazards, which can influence real estate decisions. For instance, 13% of properties in Cookeville are at risk of severe flooding over the next 30 years. Wildfire risk is also moderate, affecting 47% of properties. Understanding these risks is essential for making informed decisions about property purchases and insurance needs.

Natural Hazards and Environmental Risks

  • Flood Factor: 13% of properties at risk of severe flooding in the next 30 years.
  • Fire Factor: 47% of properties at risk of wildfire.
  • Wind Factor: 100% of properties at moderate risk of severe wind events in the next 30 years.

Final Thoughts: Investing in Brookhaven, Cookeville

Brookhaven in Cookeville, TN, presents a compelling blend of diversity, growth, and opportunity for real estate investors and homeowners alike. With its range of home types, sizes, and architectural styles, coupled with a strong education system and a keen awareness of environmental factors, Brookhaven offers a well-rounded living experience. The real estate market here shows promising growth and appreciation rates, making it an attractive option for long-term investment. Whether you're seeking a family-friendly neighborhood, an investment opportunity, or a place to call home, Brookhaven in Cookeville stands out as a prime choice.

In summary, Brookhaven, Cookeville, TN, is more than just a place to live; it's a community where history, modernity, and nature converge. The area's housing market, characterized by diversity and growth, offers something for everyone – from first-time homebuyers to seasoned investors. With its strong educational infrastructure, awareness of environmental factors, and a vibrant community spirit, Brookhaven is a place where you can truly build a life.