GNAR Press Release
The Greater Nashville Association of Realtors released the June and second quater sales figures today in a press release with big news in the condominium market. For the first time ever, the median price of a condominium is HIGHER than the median price of a single family home. $183,61 for homes and $185,500 for a condominium. Though sales in the region are sluggish and inventory is high, it’s exciting to see this bright spot gleaming through.
GNAR President Mandy Wachtler said “The consistent popularity and strong prices of condominiums in the area reflects an important trend toward the desirability of urban living options in Nashville. It is encouraging to see sales in the urban environment continue to grow and strengthen, while at the same time there is a variety of living choices in all price ranges throughout the region”.
I liken the continued growth in the urban condo movement to the global “green” movement. People are concerned with gas prices and their carbon footprint; urban living is a partial solution to both and a trend that I believe will continue to grow.
