Terrazzo Nashville 2010 Condo Sales Recap

Condos for Sale in Downtown Nashville Riding the post condo auction wave, 2010 was a banner year for the Terrazzo in Nashville’s Gulch. Bolstered by lingering closings from November’s auction, the Terrazzo closed 45 condos in 2010 compared to 40 in 2009. With only 117 total residential condos in the development, the Terrazzo now has 32 left to close before 100% sellout. As a majority of the remaining inventory appears to be the larger, more expensive units, I suspect it may take more than a year before the Terrazzo is completely owner occupied.

Year Over Year Condo Prices Slide in Terrazzo

The average price of the Terrazzo condos slide back to earth in 2010, down to $238.52/ft from a high of $278.99/ft in 2009. This represents a 16.8% decline in year over year condo prices. However, since the developer sponsored condo auction in November 2009, the Terrazzo prices have held rock steady. The auction achieved an average sales price of $233.01/ft for the 25 condos sold that day. I feel very comfortable in predicting that the sales price will continue a very slow, yet measured climb in 2011.

2010 Terrazzo Condo Sales

 terrazzo nashville condo sales 2010

View all condos currently for sale in the Terrazzo Nashville

    Grant Hammond

    Grant Hammond is a Nashville real estate broker at Compass RE, Broker, ABR, SFR, ePRO, with 25 years of experience and over $1 billion in career sales across three practice areas: approximately $200M in luxury home sales above $1.5M (100 transactions), 350+ downtown Nashville high-rise condominium transactions, and 550+ Airbnb and short-term rental transactions in Davidson County. He has received the Greater Nashville REALTORS Diamond Elite Award of Excellence 9 times and personally owns more than 20 non-owner-occupied short-term rental townhomes within three miles of downtown Nashville. He co-founded Summit Property Management in 2008, scaled it to over 350 units, and sold the company in 2013. His market analysis has been cited by the Wall Street Journal, the Los Angeles Times, The Tennessean, and the Nashville Business Journal. He holds Tennessee Broker License #261980.

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