If you’ve lived in Nashville for a while you’ve likely seen a big change in our city. If you’re looking to move to Nashville we would be honored to have you!
The changes that have come to our city over the past years are exciting, pride building, and inspiring but they are also a little frightening!
Nashville is officially the “It” city and with that title comes a bunch of notoriety. In fact, we are suddenly popping up on a whole bunch of lists:
“Top 20 Destinations for 2020” – Forbes Travel Guide
“Top 10 American Cities for Family-Friendly Travel” – Forbes
“20 Best Places To Go in 2020” – Conde’ Nast Travelers
With our growth has come some growing pains in the way of price increases in many areas. The current median list price in Nashville is $329,000 and the median list price / sq ft. is $196. For comparison, the median list price in Denver, CO (a market that continues to get more expensive) is $452,000 and the median list price in Omaha, Nebraska (a city known for its affordability) is $191,000. In addition, because of the amount of people looking to move to Nashville, fancy restaurants are popping up all over and food and drink prices are on par with big cities like New York, Chicago, Los Angeles, and San Francisco.
Those visiting our city will find the price of hotels have gone up as well. Hotel prices are the most expensive in all of the country, according to Cheaphotels.org.
The good news is with growth comes opportunity. While real estate prices have gone up each year this decade – 12% to 14% on average – the market does not show any signs of slowing down. Purchasing a home in Nashville can be a wise investment.
The other good news is there are a lot of neighborhoods that have seen major changes. Areas that weren’t considered safe or desirable to live in only a few years ago have been gentrified. Gentrification has been happening in East Nashville, West Nashville, North Nashville and the Gulch.
Not only are the neighborhoods changing, but the type of homes we are seeing built is as well! The real estate landscape in these areas has brought us a new term called the “tall/skinny”. Investors are scooping up older homes on large lots in and around these neighborhoods and tearing them down. In their place they are building 2 – 4 tall and skinny houses on these lots.
Do you want to be a part of this exciting Nashville market? Please contact me! I’d love to show you around and help you get into the perfect home in the perfect neighborhood for you!
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