Nashville’s Townhouse Market on the Rise
If you’re in the market for a new home, a townhome just might be the right choice for you - affordable, yet also seeing tremendous growth in both inventory AND values.
The Nashville townhouse market is strong in 2023 with prices up and inventory increasing. Here’s some quick stats:
The median sold price for a townhouse in Nashville is currently $335,164, which is up 11.7% from last year.
The number of new listings is up 8.8% since this time last year, meaning that buyers have more options to choose from.
However, the average time on market is still only 5 days, so buyers need to be prepared to act quickly.
This is good news for buyers who are looking for a townhouse in Nashville. The rising prices mean that townhouses are a good investment, and the increasing inventory means that buyers may have more options than if they are only looking at single-family homes.
Keep in mind: some townhouses are deeded as “condo”. There may be additional HOA fees with this type of property. Also, the interest rate on a mortgage for a condo or townhouse may be slightly higher. Speak to your lender about all the types of property you may potentially buy so that you are informed and prepared.
If you are considering buying a townhouse in Nashville, there are a few things you should keep in mind:
Be prepared to act quickly.
Townhouses are selling quickly in Nashville, so you need to be ready to make an offer as soon as you find a townhouse that you like.
Be sure to do your research.
There are many different townhouses available in Nashville, so you need to be sure to find one that is right for you. The Living True Home Group will guide you during each step.
By being informed, you will be empowered to make a wise decision about buying a townhouse in Nashville. With the right information, you will find a townhouse that meets your needs and budget.