NASHVILLE, TN (WSMV) - There are many factors that you consider when deciding to buy a home. Economy, location, demand... just to name a few.
Year after year, Nashville continues to be a trendsetter in the real estate world. For example, condos. They're popping up all over the country and Music City is no exception.
"The condo market is Nashville is only as old as 2003 to 2004," says Jeff Cheko, a real estate broker with The Ashton Real Estate Group of RE/MAX Advantage. He says condos fulfill a big need for rental units across the city. In fact, they make up the largest percentage of new construction around Nashville.
"It's really only in its infancy. You're going to see more condos. And of course, studies have shown we're underserved from a rental unit perspective. I think with what's coming, we may be reaching a point neutral there, but we've gotta catch up to that demand on the rental and condo business," explains Checko.
As far as "hot spots" for home buying this year, you can expect the usual suspects. Charlotte Park and East Nashville continue to be high performers for real estate agents across the city.
Nashville is currently a seller's market. There are so many people who want to live and work here, that the demand for places to live is greater than the supply. That is what keeps Music City's housing market on top.
"Well as somebody who is a participating broker, you love to be able to say hey, this a place you wanna be... and other people agree with that," says Checko.
In a recent housing market study, Zillow named Nashville the 4th strongest real estate market in the country for 2019.