Nashville is the capital of the state of Tennessee, a relatively urbanized city with a rural vibe. Nashville is home to an up-and-coming culinary scene, world class entertainment, southern hospitality, and outstanding educational institutions. Furthermore, Nashville holds the heart of country music - dubbed as the Music City of America.
Before moving in, there are few details to know about how endearing Nashville is. There are many features to ponder, such as the best neighborhoods in town and the rent cost.
Weather: Occasionally Extreme
Music City enjoys good weather, with almost clear skies all year-round; however, occasional storms might hit the area. During summer, the temperature can soar up to 109 degrees Fahrenheit. On the other hand, winter temperatures can drop to a staggering -17 degrees Fahrenheit. These extremes in temperature can be remarkably unpleasant for anyone. Luckily, these extreme temperatures are on the rarer side and the shoulder seasons in Nashville can't be beat!
The Cost of Living
It's important to know the cost of living in Nashville, where it is 9% lower than the national average. More specifically, housing costs 9% less, and utilities cost 10% less. In addition, grocery stores cost 3% less, and transportation costs are the same as the national average.
With a large amount of people moving here it can be said that there's a definitely appeal to the ability to live an affordable urban lifestyle!
The Housing Market
According to Redfin, the average sale price of homes in Nashville is around $339,000. This statistic has seen a rise of almost 8% since the last year. That puts the price of lots at $208 per square foot. Properties get an average of two offers and it takes less than 50 days to sell a property.
Pertinently, the housing market of Nashville is on the more competitive side. Buyers have more opportunities to gain properties of their own in Nashville. However, Nashville housing prices are rising fast. As a result, people are advised to buy a property in the city if they have any relocating intentions. Nashville, TN, is a seller's market because of the high demand and large influx of transplants to the area.
Housing prices were slightly going down in 2011, but it rebounded in 2012. Since then, housing prices have been rising with no visible decline on the horizon.
To Buy or Not to Buy?
Nashville, TN, is the 4th best real estate market in the United States today. With this impression, sellers are taking advantage of the opportunity. Prices continue to rise higher than usual since it's considered one of the most "prime real estate" places in America.
Therefore, if ideas of moving to Nashville are floating around, then waste no time! There's no foreseeable decline in housing prices in the area. Thus, this time is also an excellent opportunity for most buyers!
Final Thoughts
Nashville is undeniably an excellent place to relocate to. The city's lively atmosphere and rich culture truly appeals to many. Nashville's current real estate condition is an indication of a striving place for sellers and buyers and there's no time to waste!
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