Nashville Real Estate
Blog, Condos, Featured, Market News

Icon Nashville Condo Prices Going Up

September 14, 2009 by · 15 Comments 

If you are one of those folks who thought that condo prices would continue fall this year, here is a piece of news that will surprise you: The developers of the Icon in the Gulch, Bristol Development and MarketStreet Enterprises, are raising prices today.

Specifically, the Icon is raising prices on all of the downtown facing 1 bedroom and 2 bedroom condos in the building. Looking at the total closings in the building, more than 60% of the downtown facing tower condos have closed and an unknown number have new contracts that will most likely push the total over 65% closed.

According to Brian Merrill, President of condo sales for the Bristol Group, “sales have been very strong over the past several months.” I should say that statement may one of the larger understatements of the season considering that the Icon closed 13 condos in August alone, tripling their nearest competition.

Naysayers will surely question the longevity of this price increase, but after personally selling 4 downtown facing condos in the Icon within the past month, I have seen firsthand how difficult negotiating has become. The developers are still flexible on the residential mid-rise section of the building as well as in the tower section facing the Terrazzo. But, if you wanted that panoramic view of downtown at the lowest possible price…you just officially missed the boat.

If you would like to see all 171 closings in the Icon, please reply below and Grant Hammond will contact you within 24 hours.

The last 5 closings in the Icon in the Gulch

Unit No. Name Price Floor Plan Sqaure Feet Price/Ft
1716 M. Howell $235,720 Eclipse 710 $332.00
1511 J. Bechke $315,000 Skyline 945 $333.33
1611 D. Zobl $315,000 Skyline 945 $333.33
1415 Y. Redhi $425,000 Panorama 1,298 $327.43
1011 T. Morris $310,000 Skyline 945 $328.04

 

View all condos for sale in the Icon in the Gulch

Related posts:

  1. Icon Condo Absorption Analysis in Nashville
  2. Icon in the Gulch Downtown Condo for Sale
  3. Nashville Condo Prices and Closings Q2 2010
  4. Icon in the Gulch
  5. The Gulch

Tagged: , , , , , ,

  • Pingback: Velocity in the Gulch Condo Sales Update | Nashville Real Estate

  • Pingback: September Nashville Condo Sales Analysis | Nashville Real Estate

  • Pingback: Encore Condos Offer Close Out Prices | Nashville Real Estate

  • Phil Barfoot

    Grant- Please email me the list of all closings in the Icon. Thanks,

    Phil Barfoot

  • http://heatherrigdon.com/ Heather Rigdon

    Grant-please send me the list of all closings at the Icon,

    Thank you,

  • http://heatherrigdon.com/ Heather Rigdon

    Grant-please send me the list of all closings at the Icon,

    Thank you,

  • Pingback: Advice for Nashville Condo Buyers | Nashville Real Estate

  • Pingback: Terrazzo Auction Will Impact Nashville Condos | Nashville Real Estate

  • Pingback: Buying a Condo at the Icon in the Gulch? | Nashville Real Estate

  • Alex Nackenoff

    Grant- Could you possibly email me a list of all closings at the Icon? Thanks,
    Alex Nackenoff

  • Alex Nackenoff

    Grant- Could you possibly email me a list of all closings at the Icon? Thanks,
    Alex Nackenoff

  • A Barnard

    How many units are left to sell at this point? Are they still going under contract at $300 a foot or lower since I assume many left are lower floors / facing Terrazzo?

  • http://www.granthammond.com/ Grant Hammond

    A Barnard – there are right at 150 condos left to sell at the Icon as of the end of September. The downtown facing condos in the tower have actually been selling for almost $400/ft as of late (2 sales over $400/ft), but the midtown facing side of the midrise has been selling for closer to $250/ft. Depending upon where you are looking in the building, there is a very different price. Would you like the sales information for a particular section of the building or view within the Icon? I can certainly provide that information on this blog.

  • A Barnard

    I saw your list of 2Q closings at Icon. I’d be curious to know how many have closed since then? Have the sales slowed since the tax credit expired?

    With regard to views, I was there last week and the agent told me there basically were no more downtown views in the tower (except a few put on hold by the developer). So I’d expect to see average sales prices coming down since there aren’t really any more of the great view units left.

    Thanks!

  • Parth

    Grant, please email me all the closing prices of the ICON. Thank you