Nashville’s housing market remains one of the hottest markets in the US. Despite the pandemic-led economic slowdown, there is healthy demand to purchase homes in the Nashville real estate market. Across the nation, we have seen people moving from big cities to the suburbs. Nashville too has seen an influx of buyers coming from larger markets like Seattle, New York, and California. Another factor of increase in the out-of-state homebuyers is that Tennessee is one of only seven states that does not impose an income tax and one of two that doesn’t collect tax on earned income.
This has increased the demand in many folds. High demand and low inventory are leading to the rise in home prices in Nashville at a fast pace. Nashville home prices are rising as a result of low-interest rates, low inventory, and changing demographics in larger cities. This is a great trend for For Greater Nashville sellers. Currently, the inventory remains low and the prices will continue to rise for the next twelve months (check the forecast given below).
Interest rates are at an all-time low making things a bit easier for the buyers in this fast-paced seller’s market. For buyers, Nashville’s quality of life and relative affordability compared to the rest of the country makes it a great place to invest or buy a house nonetheless. There were over 4,063 home closings (res plus condo) reported for May 2021 according to figures provided by Greater Nashville REALTORS®. This figure is up 24.36 percent from the 3,267 closings reported for the same period last year.
The median price for a residential single-family home was $400,000, and for a condominium, it was $277,900. Inventory continues to remain low across the Nashville Metro Area in residential housing. Inventory at the end of May was 4,308 units for sale. A housing shortage will remain in 2021, keeping home prices high. It is expected that the Nashville real estate market will continue in favor of sellers because of the demand-supply imbalance.
Property values across Nashville and Davidson County are expected to rise a median 34% in the county’s 2021 property reappraisal, according to a report released in April 2021. According to real estate brokers, the Nashville housing market looks unstoppable. Even if you’re purchasing today at what you consider to be inflated prices, a new price high is likely to emerge in the coming years.
Nashville Housing Market Trends 2021
Nashville is a “seller’s real estate market” which means that there exists a limited supply of homes in Nashville, and buyers are forced to compete often resulting in higher prices and/or quicker sales that tend to benefit sellers. With an inventory of houses on the market at an all-time low and unwavering interest in the Nashville area, it’s now common for homes to receive 25 to 30 offers in less than a week. Redfin.com, a real estate brokerage, also considers the Nashville housing market to only be “somewhat competitive, with homes receiving 4 offers on average and sell in around 31 days.
The average sale price of a home in Nashville was $385,000 last month, up 16.8% since last year. The average sale price per square foot in Nashville is $236, up 22.9% since last year. There were also 609 condos, 434 townhouses, and 71 multi-family units for sale in Nashville last month. Hot homes on the market can sell for about 4% above the list price and go pending in around 6 days.
Average Sales Price: $385,000 (+16.8% since last year)
Average price per square foot: $236 (+22.9% since last year)
Average time on market: 31 days
Median Sales Price: $415,000 (+16.8% since last year)
Sales Activity: 1433 sold (+42.6% since last year)
Homes sell above 1.2% over List Price
Here’s the May 2021 housing data for the Nashville Metropolitan Area released by Greater Nashville REALTORS®. Monthly home sales data includes the following counties in Middle Tennessee: Davidson, Cheatham, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson, and Wilson.
Pending Sales: 3,778
Days on Market: 35
Housing Type
Closings
Median Price
Inventory
Total
4063
—
4308
Residential
3214
$400,000
2557
Condominium
586
$277,900
601
Multi-Family
32
—
64
Farm/Land/ Lots
231
—
1086
Courtesy of Greaternashvillerealtors.org
Nashville Real Estate Market Forecast 2021-2022 (Latest Projections)
What are the Nashville real estate market predictions for 2021 & 2022? Let us look at the price trends recorded by Zillow over the past few years. Nashville has a record of being one of the best long-term real estate investments in the U.S. Since 2012, the Nashville home values have appreciated by nearly 109% (Zillow Home Value Index).
According to Zillow, the typical home in Nashville is now worth $340,329, up 11.9% year-over-year. Similarly, the typical home in Greater Nashville is now worth $329,597, up 12.1% over the past year. It indicates that 50 percent of all housing stock in the area is worth more than $329,597 and 50 percent is worth less (adjusting for seasonal fluctuations). ZHVI represents the whole housing stock and not just the homes that list or sell in a given month.
Similar growth has been recorded by NeighborhoodScout.com. Their data also shows that Nashville real estate appreciated by nearly 85% over the last ten years. Its annual appreciation rate has been averaging at 6.37%. This figure puts Nashville in the top 10% nationally for real estate appreciation.
During the latest twelve months, the Nashville appreciation rate was nearly 5%, and in the latest quarter, the appreciation rate was 1.52%, which annualizes to a rate of 6.21%. This figure corroborates Zillow’s positive forecast, which also predicts that home prices in this region are expected to increase by nearly 7% in the next twelve months. In other words, if you buy a property now, then after twelve months, you may expect an ROI of anything between 6-7%.
Here is Zillow’s home price forecast for Nashville, Davidson County, and Nashville Metropolitan Area. The forecast is until May 2022 and you can expect to see very strong home price gains. Even though home values in Nashville rose by over 10% over the past year, prices are actually expected to continue rising at the same pace. There’s no relief for buyers in Nashville but it is good news for sellers.
Nashville-Davidson–Murfreesboro–Franklin Metro home values have gone up 12.1% over the past year and the latest forecast is that they will rise 17.4% in the next twelve months.
Nashville home values have gone up 11.9% over the past year and will continue to rise in the next twelve months.
Davidson County home values have gone up 11.9% over the past year and will continue to rise in the next twelve months.
The typical home value of homes in Murfreesboro is $305,051. Home values have gone up 10.7% over the past year and will continue to rise in the next twelve months.
Courtesy of Zillow.com
Here is a short and crisp Nashville housing market forecast by LittleBigHomes. It is for the 3 years ending with the 3rd Quarter of 2021. The accuracy of this forecast for Nashville is 83% and it is predicting a positive trend. They estimate that the probability of rising home prices in Nashville is 83% during this period. If this price forecast is correct, the Nashville home values will be higher in the 3rd Quarter of 2021 than they were in the 3rd Quarter of 2018.
Nashville MSA Real Estate Appreciation (Historical Price Trends)
If you are a home buyer or real estate investor, Nashville definitely has a track record of being one of the best long-term real estate investments in the US through the last ten years. The historical change in home prices for Nashville MSA is shown below for the three time periods. The highest annual change in the value of houses in the Nashville Real Estate Market was 13% in the twelve months ended with the 1st Quarter of 1982.
The worst annual change in home values in the Nashville Market was -5% in the twelve months ended with the 1st Quarter of 2010. The highest growth in home values in the Nashville Real Estate Market over a three-year period was 33% in the three years ended with the 2nd Quarter of 2018. The worst performance over a three-year period in the Nashville Market was -9% in the three years ended with the 2nd Quarter of 2011.
Time Period
Nashville Real Estate Appreciation
Last 5 Years
54%
Last 10 Years
51%
Last 20 Years
125%
Impact of Covid-19 on the Nashville Housing Market
Nashville’s housing market reports showed that this region did experience a strong first quarter of 2020 but the impact of the COVID-19 pandemic and the economic disruptions affected the real estate activity. There was a substantial drop in year-over-year sales due to concerns of transacting real estate during a pandemic. The Nashville housing market hit a historic low due to COVID-19. As Covid-19 cases began to appear across the state, metro Nashville responded with a “Safer at Home” policy on March 23, followed by similar state guidance a week later.
By early April 2020, vast numbers of employees and students found themselves homebound for weeks on end. Many were concerned about the lasting impact of this pandemic. In April home sales fell 17 percent year-over-year — a major dip due to the negative impact of COVID-19. By comparison, the Greater Nashville Realtors (that covers a nine-county area) said that March home sales increased 3.4 percent compared to the figure of March 2019.
The median price for a single-family home in April was $330,000 (the same as in March), up from the April 2019 median price of $306,970. For a condominium, the median price was $228,500, down 5 percent from March and down almost 1 percent from April of last year. The housing inventory at the end of April was 9,976, down significantly from the 11,627 marks of April 2019. In May 2020, the number of home sales in the Greater Nashville area dropped by 22% as Covid-19’s economic disruption continued limiting owners’ selling and moving options.
There were 3,267 closings in May, down from the 4,172 closings that happened in May 2019, according to May’s data from Greater Nashville Realtors. After a rough second quarter, the housing market recovered nicely and continues with positive gains. The uptick in closings meant that buyers were still in the market for homes despite needing to make decisions faster about which home to purchase due to low inventory and rising competition. In August 2020, things showed the signs of the strongest housing markets in the nation.
Low interest rates continued to make Middle Tennessee a market recovery leader. September was another month of high pending sales due to strong buyer turnout. Demand for homes in Greater Nashville was at an all-time high. There were 4,380 home closings reported for August according to figures provided by Greater Nashville REALTORS®. This figure is up to six percent from the 4,140 closings reported for the same period last year. 4,220 sales were pending at the end of August, compared to 3,561 pending sales at this time last year.
The average number of days on the market for a single-family home was 27 days. The median price for a residential single-family home was $346,172 and for a condominium, it was $242,500. This compares with last year’s median residential and condominium prices of $315,862 and $232,900 respectively. Inventory at the end of August was 8,459 down from 11,460 in August 2019. Realtor’s data for the third quarter of 2020 showed 13,419 closings, up 12 percent from the 12,030 closings during the same period of 2019.
3,799 sales were pending at the end of September, compared with 3,181 pending sales at this time last year. The average number of days on the market for a single-family home was 29 days. The median residential price for a single-family home during September was $348,000, and for a condominium, it was $245,000. This compares with last year’s median residential and condominium, prices of $318,000 and $236,000, respectively. 3,799 sales were pending at the end of September, compared with 3,181 pending sales at this time last year.
The average number of days on the market for a single-family home was 29 days. The median residential price for a single-family home during September was $348,000, and for a condominium, it was $245,000. This compares with last year’s median residential and condominium, prices of $318,000 and $236,000, respectively. The third quarter of 2020 ended with a 2 percent increase in sales year-to-date. Inventory remained low across the region. Lower inventory coupled with low interest rates makes for a competitive market for buyers in some areas.
Nashville Real Estate Foreclosures Trends
As per the Nashville foreclosure data by Zillow, in Nashville 0.1 homes are foreclosed (per 10,000). This is lower than the Nashville-Davidson–Murfreesboro–Franklin Metro value of 0.2 and also lower than the national value of 1.2. The percent of delinquent mortgages in Nashville is 0.6%, which is lower than the national value of 1.1%. The percent of Nashville homeowners underwater on their mortgage is 5.4%, which is higher than Nashville-Davidson–Murfreesboro–Franklin Metro at 5.1%.
Nashville Real Estate Investment: Should You Invest or Not?
Is Nashville a Good Place For Real Estate Investment? Many real estate investors have asked themselves if buying a property in Nashville is a good investment? You need to drill deeper into local trends if you want to know what the market holds for real estate investors and buyers in 2021. Nashville is a minimally walkable city in Davidson County with a population of approximately 601,201 people.
Nashville, Tennessee is famous for the Grand Ole Opry, the recreation of the Parthenon, and country music. It is best known as a tourist attraction in middle America. Nashville itself is home to just over six hundred thousand people. That alone makes it the 24th most populous city in the country. If you count semi-independent parts of Davidson County, then the Nashville real estate market is home to about 700,000 people. The Nashville metropolitan area contains more than two million people.
Many of those live in Davidson and Murfreesboro. Nashville has a mixture of owner-occupied and renter-occupied housing units. According to Neighborhoodscout.com, a real estate data provider, one and two-bedroom single-family detached homes the most common housing units in Nashville. Other types of housing that are prevalent in Nashville include large apartment complexes, duplexes, rowhouses, and homes converted to apartments.
The Nashville housing market has been good for sellers in the past years due to the rising prices, and it is considered one of the hottest housing markets in the U.S. The Nashville real estate boom began about 10 years ago and the investors expect these trends to continue in 2021 and the foreseeable future, making Nashville one of the most desirable housing markets in the country.
Several long-term trends make the Nashville market a good place to invest in real estate without any fear of boom and bust like what hit Arizona during the Great Recession. In 2020, Nashville came in at No. 4 in the country for expected activity and price appreciation, in comparison to 25 large markets around the country, according to a survey published by Zillow.
In fact, Nashville was the only market analyzed in which no panelists said they expected home values to fall in 2020. The home values (nationally) were expected to grow by 2.8% in 2020. 59% of panelists expected Nashville home values to appreciate faster than their expected national rate of 2.8%. 31% of panelists expected Nashville home prices to appreciate slower than they do nationally while 10% of panelists expected them to grow about the same as they do nationally.
One of the best features of the Nashville real estate market is the median property price in the city, which is considered more affordable than most of the other top markets for investing in real estate in the U.S. As the inventory remains limited, it means that Nashville will remain among the fastest-moving housing markets in the U.S. Also, as the mortgage rates remain at record lows, it makes buying a property more affordable now than it was in the previous years.
Let’s take a look at the number of positive things going on in the Nashville real estate market which can help investors who are keen to buy an investment property in this city.
1. A Strong Economy And Job Opportunities
In early 2018, a Quartz article joked that Nashville could give up the nickname Music City and be called Job City. Nashville’s claim to the title was having the lowest unemployment rate of any metropolitan area with more than a million people. Nashville real estate market demand will remain strong as long as people want to move here for work, and unlike some areas, they can actually find it here. The Nashville area economy includes thriving technology, service, education, health, and manufacturing sectors.
Notable job growth has occurred in the professional and business services, leisure and hospitality, manufacturing, and mining, logging, and construction sectors. Financial enterprises have also discovered the benefits of doing business in Nashville, giving abundant employment prospects to bankers, accountants, and budget analysts. While the tourism industry is thriving, white-collar jobs are expanding rapidly, too.
Almost anyone with a marketable skill can find a good-paying job in Nashville. This trend is expected to continue for at least the next 10 years, with opportunities especially robust for healthcare, IT, and design/media specialists. Average incomes on the city’s west side are higher than in areas east of downtown.
2. Strong Demographic Trends In Nashville
The average age of Nashville residents is around 33, much younger than the national average of 40. This means the Nashville real estate market contains a larger than average number of young families, and given the strong job market, these adults and their children will contribute to housing demand for years to come.
3. Quality of Life in Nashville Attracts People of All Ages
Nashville was ranked the fastest-growing large metropolitan area in the United States in 2017. This is in no small part due to its high rankings in various quality of life surveys such as U.S. News and World Report. That publication ranked Nashville the 17th best place to live in America in 2020-2021 — giving it high marks on desirability and value.
It was also ranked 12th in their list of best places to retire and 23rd in the fastest-growing places. This means many are choosing to move here because of the quality of life whether or not they’re coming for work. Nashville is also known as the Country Music Capital of the World and it has unique museums and architecture.
Today, Nashville is a hot relocation destination with a thriving economy, continuous population growth, and a diverse, ever-growing services base. Consumers who act aggressively to break into the local real estate market should enjoy both a high quality of life and rising home values for the foreseeable future.
Demographics of the Nashville:
College-educated: 40%
Homeowners: 65.6%
Married: 43%
4. Known Redevelopment Opportunities
Redevelopment can be hit and miss since you can’t be sure a waterfront area or community slated for revitalization actually goes up in value. One benefit of the Nashville housing market is that there are known areas of redevelopment where returns are nearly certain. The area around the future professional sports stadium comes to mind. East Nashville is gentrifying, as well.
5. A Large Student Population
The Nashville housing market presents a prime opportunity for real estate investors who would like to cater to students. This is partially due to the fact it is the capital of the state, and it is partially because it is simply the largest city in the state. Local universities include but are not limited to Tennessee State University, Lipscomb University, Belmont University, Aquinas College, Fisk University, and Vanderbilt University.
American Baptist College, Trevecca Nazarene University, Meharry College, Welch College, and Nashville State Community College are also located here. If you want to invest in the suburban Nashville housing market, Middle Tennessee State University is located in Murfreesboro. The presence of several colleges and universities, along with both private and public secondary schools, presents rich possibilities to academic professionals.
6. The Tourism Related Rental Market
The Nashville housing market provides two different tourism-related rental markets. One is, of course, renting homes to tourists who are more likely to be families and retired couples than swinging singles. Another possibility is renting to young adults who work in the tourism industry themselves.
Just over a third of the market rents, a figure similar to the national average. This means that a sudden decline in tourism isn’t going to hurt the Nashville housing market much. The city is currently arguing over limits for AirBnB rentals for non-residents, but no restrictions on this are in place yet or in the foreseeable future.
7. Affordable Nashville Real Estate
The median home price in Nashville is around $298,000 (Zillow). Nashville is relatively affordable compared to other major U.S. metro areas, though the housing market has become increasingly competitive. You can buy two moderately large single-family homes here for the price of a cheap condo in California, and you can buy half a dozen rental properties in the Nashville real estate market for the price of one good house in New York City. Nor will the area see a building boom that causes real estate to go down dramatically in value, since rentals had a vacancy rate of around 4% in 2016.
Some new housing stock may come onto the market, but not enough to hurt the value of existing homes. The area has seen an increase in its population, as well as a rise in home values. The Southern Suburbs submarket, which includes the cities of Murfreesboro and Franklin, is the fastest-growing submarket in Nashville Metro Area. Since Tennessee is one of the few states that doesn’t tax wages, residents can keep more of their income, though there is a 6% hall tax on investment interest and dividends.
The state Legislature agreed in 2016 to start phasing out the Hall income tax, with its total elimination beginning on Jan 1, 2021. This is considered among the most important tax reforms in the history of Tennessee. From a 6 percent tax rate on investment income, the levy was to be reduced by 1 percent each year through 2020. For the year that started Jan. 1, the rate is 2 percent. Hence, Tennessee is on its way to becoming a truly no-income-tax state, to join seven other states — Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.
8. Stability
We’ve touched on the subject of rental market stability. Nashville has high employment rates and low vacancy rates, but none of those numbers are enough to throw the market into overdrive, whether it leads to a glut of supply to meet high demand or a boom-bust cycle. The Nashville Business Journal ranked Nashville as the most stable housing market in the state in 2018. The city’s relatively slow permitting process actually slows down the construction of new units, keeping home prices stable and high.
9. It Is Landlord Friendly
Tennessee like much of the south is landlord-friendly. Landlords in the Nashville real estate market don’t have to have a written lease unless the rental agreement is longer than three years, though that’s always recommended. There is a limited payment grace period. Receipts aren’t required for rent and deposit payments, though again, that would be wise. Interest isn’t due on deposits. You can charge late fees but have to specify them in the lease. The only minor issue is that you have to have a rental license before you can be a landlord.
10. The Good Return on the Investment
Interestingly, the average annual salary is about $62,000 (source: Payscale.com), leading many here to rent instead of buy. According to RENTCafe, 46% of the households in Nashville, TN are renter-occupied while 53% are owner-occupied. However, the rental market isn’t so hot that it is guaranteed to collapse anytime soon. Renter household growth has outpaced the construction of rental units and the conversion of single-family homes to rental units since 2010.
That is why average rent hovers around $1,400 a month, providing decent returns to landlords who don’t over leverage but without worrying about a condo boom to cash in on rental demand diminishing profits over the long term. Also, the fact that rents in the Nashville real estate market are almost $200 per month greater than the Tennessee average is a strong reason to buy real estate here than elsewhere in the state. And know that rental rates for large apartments and condos are even higher – commanding rents in the $1500-2000 range. About 25% of the apartments fall in this price range whereas 47% fall in the range of $1,001-$1,500.
As of June 30, 2021, the average rent for a 1-bedroom apartment in Nashville, TN is currently $1,295. This is a 3% decrease compared to the previous year. Over the past month, the average rent for a studio apartment in Nashville increased by 6% to $1,400. The average rent for a 1-bedroom apartment increased by 4% to $1,295, and the average rent for a 2-bedroom apartment remained flat.
Two-bedroom apartments in Nashville rent for $1450 a month on average (a 1% increase from last year).
Three-bedroom apartment rents average $1985 (a 9% increase from last year).
Four-bedroom apartment rents average $2500 (a 2% decrease from last year).
Note that the decreasing rents are due to the sudden impact of the pandemic this year. Before the impact of the pandemic, the average monthly rent in Nashville was $1,428, a 6% increase compared to the previous year (source). That’s for 889 square feet, which is an average size for an apartment in Nashville.
The most affordable neighborhoods where the asking prices are below the average Nashville rent of $1,428/mo are:
Airport Estates, where the average rent goes for $1,047/month.
Bayview, where renters pay $1,047/mo on average.
Belair, where the average rent goes for $1,047/mo.
Castlegate, where the average rent goes for $1,047/mo.
Copperfield Terrace where the average rent goes for $1,047/mo.
Curreywood Acres where the average rent goes for $1,047/mo.
The most expensive neighborhoods in Nashville are:
Burton Valley, where renters pay $1,962 on average.
Forest Hills, where renters pay $1,962 on average.
Tyne Meade, where renters pay $1,962 on average.
Bellevue, with an average rent of $1,408.
Hillsboro Village – Hillsboro West End, where apartments go for $1,691/month.
Rolling Mill Hill, where renters pay $1,384 on average.
Midtown – Vanderbilt University with $1,893.
Cayce, where the average monthly rent is $1,462.
Other famous neighborhoods in Nashville, Tennessee are Green Hills, Inglewood, Urbandale Nations, Nolensville, Joelton, Downtown Nashville, Crieve Hall, Hermitage Estates, Hermitage Hills, Donelson-Hermitage-Old Hickory, Madison, Sylvan Park, Antioch-Priest Lake, Old Hickory Village, West Nashville, Green Hills, East Nashville, and Antioch Park.
The Sunnyside neighborhood is one such neighborhood that has grown massively since its founding. It has over 800 homes with historic or architectural significance alone, which should appeal to many homebuyers. For those looking for a deal in this neighborhood, the home prices have dropped by 23.6% since last year.
The average sale price per square foot in Sunnyside is $270, down 23.1% since last year. Redfin says that the homes sell for 2.6% under their list price. Average Price: $717K. Buyers who can afford to buy at this price point should make a move as they hold the upper hand in price negotiations.
Downtown Nashville is another dynamic, urban neighborhood that is the hub of the entertainment and nightlife that defines Music City. It has a lot of great apartment options for rent, but you can also consider buying a property that will keep you close to work, public transit, and all the entertainment you can hope for. It is also a buyer’s market and much cheaper than Sunnyside.
A great market for buyers because it is not very competitive. According to Redfin, the average sale price of a home in Downtown Nashville was $495K last month, down 12.4% since last year. The average sale price per square foot in Downtown Nashville is $569, down 2.9% since last year. Typically homes in this neighborhood sell for around 2.9% below their list price, don’t receive multiple offers, and sell in about 75 days. A high average DOM signals a weak market that favors buyers.
Here are the ten neighborhoods in Nashville having the highest real estate appreciation rates since 2000—List by Neigborhoodscout.com.
N 9th St / Mansfield Ave
S 16th St / Shelby Ave
Gallatin Pike / Greenwood Ave
Eastland Ave / N 16th St
Shelby Ave / S 10th St
2nd Ave S / Chestnut St
Creighton Ave / Riverside Dr
Inglewood
West Nashville
Charlotte Ave / 46th Ave N
Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional/counselor continues to be a vital part of this process. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates.
NORADA REAL ESTATE INVESTMENTS has extensive experience investing in turnkey real estate and cash-flow properties. We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in many other growth markets in the United States. We can help you succeed by minimizing risk and maximizing the profitability of your investment property in Nashville.
Consult with one of the investment counselors who can help build you a custom portfolio of Nashville investment properties. Depending upon the availability, we can help you to find “Cash-Flow Rental Properties” located in some of the best neighborhoods of Nashville.
Not just limited to Nashville or Tennessee but you can also invest in some of the hottest real estate markets for rental properties in the United States.
Another housing market to go for diversifying your investments is the Austin real estate market. The Austin housing market may be one of the more expensive ones in the state of Texas, but it stands out for its large rental market and high rental rates. It is an excellent place to invest in real estate in the Lone Star State.
Homes in Austin are 23% cheaper than the national average. It may be the second most expensive housing market in the state with a median home price of around $350,000, but it is still far cheaper than California or New York. Buy up condos or townhomes, and you’ll be able to see a sizable return on the investment.
Similarly, Salt Lake City is another great market for investing in real estate for your retirement. The Salt Lake City real estate market is booming because of an ideal combination of business growth triggering in-migration and strong native population growth. Downtown Salt Lake City properties near the Mormon Temple command a premium, but that isn’t the only upscale market in the area.
Park City and the northern side of Oakley, too, have properties that cost on average well over a million dollars. As you move up Highway 80 toward Hoytsville and Wanship, properties routinely cost more than a million dollars despite the hour commute to Salt Lake City.
All you have to do is fill up this form and schedule a consultation at your convenience. We’re standing by to help you take the guesswork out of real estate investing. By researching and structuring complete Nashville turnkey real estate investments, we help you succeed by minimizing risk and maximizing profitability.
Let us know which real estate markets in the United States you consider best for real estate investing!
Remember, caveat emptor still applies when buying a property anywhere. Some of the information contained in this article was pulled from third-party sites mentioned under references. Although the information is believed to be reliable, Norada Real Estate Investments makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. All information presented should be independently verified through the references given below. As a general policy, Norada Real Estate Investments makes no claims or assertions about the future housing market conditions across the US.
References
Housing Market Data, Trends & Statistics
https://www.greaternashvillerealtors.org/pages/market-data-news/
https://www.zillow.com/Nashville-tn/home-values
https://www.deptofnumbers.com/rent/tennessee/nashville
https://www.redfin.com/city/13415/TN/Nashville/housing-market
https://www.realtor.com/realestateandhomes-search/Nashville_TN/overview
https://www.neighborhoodscout.com/tn/nashville/real-estate#description
https://www.msn.com/en-us/money/realestate/nashville-housing-market-trends-and-prices
https://www.tennessean.com/story/money/real-estate/2021/06/04/what-know-nashville-housing-market/5253078001/
Demographics
https://suburbanstats.org/population/tennessee/how-many-people-live-in-nashville
https://en.wikipedia.org/wiki/Nashville,_Tennessee
Landlord friendly
https://www.avail.co/education/laws/tennessee-landlord-tenant-laws
Quality of life
https://www.nashvillechamber.com
https://realestate.usnews.com/places/tennessee/nashville
Stability
https://thinkrealty.com/nashville-housing-market-room-grow
https://www.bizjournals.com/nashville/news/2018/05/23/report-card-tennessee-best-places-to-buy-a-house.html
Stadium / redevelopment
https://www.tennessean.com/story/sports/2018/09/05/nashville-mls-stadium-pro-soccer-team/1200230002/
https://www.theringer.com/features/2017/11/21/16678002/airbnb-nashville
Employment
https://qz.com/1251382/nashville-tennessee-has-the-uss-lowest-unemployment
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