Icon in the Gulch 2011 Condo Sales Review

The Gulch in NashvilleIt has been just under 4 years since the Icon in the Gulch first opened its doors. One may have suspected there to be quite a lot of distress in a 418 unit condo building, but the opposite is true. The Icon had its best sales year since 2008 selling 105 total condos in 2011 – 88 developer owned condos and 17 resales. The $282.15 average sales price per foot was almost exactly what I predicted 12 months ago ($281.87 was my prediction). The developer spent much of the year focusing on selling their remaining units on the back side of the tower as well as their remaining inventory in the mid-rise section of the building leading to these lower prices. However, as a result of their 2011 focus, the developer now mostly has premium view condos on mostly higher floors which will lead to higher pricing. Of the 48 condos remaining to sell, 35 are in the tower section of the building. My 2012 prediction for average pricing tops $300 per foot, $309.41 to be specific. This prediction represents an almost 10% increase over 2011.

I was involved in more than a dozen sales in the Icon in 2011 and suspect that number to increase in 2012 as I begin to focus my efforts on helping sellers maximize their value. In the past month, I have been involved with 3 resales in the building, all over $325/ft. I have represented a seller, a buyer, and in one case, I facilitated for both the seller and the buyer. Both of my sellers have achieved a sizable profit and my buyer a significant discount.

Let me put my unmatched research to work for you in the Icon. As a buyer’s agent, I know how to negotiate with the developer, I know where the weak points exist and how to exploit them in your favor. As a listing broker, I know how to position your property to achieve its maximum sale price. My extensive knowledge and decade of experience means that I know how to avoid the mistakes a less experienced agent will make. I enlist the services of the best photographers, collateral marketing material partners and condo stagers, all at my own expense. In short, I guarantee you success.

Direct Line: 615-945-7123
Email: Icon@GrantHammond.com

View current condos listed for sale in the Icon

Icon Condos Sold in 2011

Icon Condos Sold in 2011

(note: the blue highlighted transactions are resales)

Navigate back to my Nashville real estate home page to see additional research I have posted this year.