Nashville Ranks Third for Home Price Appreciation in 2017
There’s no better time than now to own a home in Nashville and the numbers prove it. Last year’s numbers from ATTOM Data Solutions’ have been tallied and it's proof that the housing market in Nashville is still hot.
According to The Tennessean, the real estate company released their 2017 statistics and Music City fared very well. Our state’s capital was ranked third in the U.S. as far as price appreciation. According to their numbers, home sellers also made their biggest profit in 17 years.
“One of the reasons for this skyrocketing home price appreciation in Nashville is 'migration' from other high-cost markets. People are moving because the jobs are moving, and they're better-paying jobs. They still see it as a bargain,” the company’s Senior Vice President, Daren Blomquist, told the newspaper. “Their context for what makes a good deal on a home is different, and they’re often willing to pay more than a local buyer.”
The average price of a house in Music City was up $24,900 since 2016. In 2017 the average price for a home was $224,900, compared to just $200,000 the previous year. Nashville ranked only below Kansas City and San Jose.
If you want to take advantage of the hot real estate market here in Nashville, call Synergy Realty Network at (615) 371-2424. We’ll hook you up with a talented, dedicated realtor that fits your particular needs.
Read the entire Tennessean article about home appreciation in Nashville here.