Home prices are soaring across the Nashville region, but buyers are finding affordable choices everywhere from the heart of the city's urban core to suburban Thompson's Station.

First-time homeowner Will Burns said he discovered a new two-bedroom condominium for under $200,000 just a few streets away from the hot 12 South and Eighth Avenue neighborhoods. His condo at the Park at Melrose Heights is located south of downtown on Nolensville Pike close to I-440 and the Fairgrounds.

"I like the location and the value of the property. It hasn't grown like 12 South and Eighth Avenue. I felt it would grow in value," Burns said.

Buyers in Williamson County, where the median home price was $422,000 in October, can find lower prices if they are willing to drive a short distance, said Jen Lucy, director of sales for the Jones Co.

The company is offering new homes from around $304,000 in Fairview's Heartland Reserve subdivision. In Thompson's Station's Canterbury neighborhood, prices start in the $350,000s.

That's not inexpensive, Lucy said, but she compared those prices with Brentwood and Franklin, where the median price in October was $603,000 and $465,000 respectively.

 

'Hip and cool'

In the Nations, the popular neighborhood on Nashville's west side, Craighead Development is opening the second phase of West Mill Townhomes at 5701 California Ave. Prices start around $225,000. The two- and three-bedroom townhomes range from 1,150 to 1,400 square feet. Residents are expected to begin moving in next month.

All 43 townhomes in the first phase sold within a month after the development was announced. Demand is just as strong for the 55 homes in the new phase, said Teresa Creecy, a Realtor for HND Realty, a sister company of Craighead Development.

"We have a long waiting list," said Creecy. "They are purchasing proximity to downtown, and the Nations is a hip and cool neighborhood."

West Mill's residents, most of whom are first-time buyers, are also attracted by the price, she said. Single-family homes in the neighborhood can cost $350,000.

"Our buyers can't afford $350,000. We're in a different market. I get calls from Realtors all the time, Can you find anything under $250,000?' " said Creecy.

At the Park at Melrose Heights, which was also developed by HND Realty, prices start in the $120,000s. Condos range from 550 to 937 square feet.

"It's not a lot of space, but for young, unmarried (owners), it's perfect," said HND Realtor Maria Creecy. She is Teresa Creecy's daughter.

Most residents are first-time buyers in their 20s who moved to Nashville for their careers, said Maria Creecy.

 

"They're not sitting in their living room. They're out and about," she said.

 

'More demand than supply'

The 80 condos in the initial phases of the Park at Melrose Heights sold quickly. HND is adding an additional 70 condos. Residents are expected to begin moving in next summer.

The Park at Melrose Heights, located at 2197 Nolensville Pike, is in a neighborhood that is "in transition, like so many are these days," said Maria Creecy.

When the company purchased the site several years ago, others in the real estate industry warned that new residences in that location would be a tough sell. Today the neighborhoods close to the Fairgrounds are emerging as a hot spot for homebuilding, said HND's Kristin Hostettler.

The company has a record of building affordable new homes in the city's emerging neighborhoods, she said.

"We stick our toes in each little puddle and see which ones turn into a pond," said Hostettler.

At Solo East condos in East Nashville, prices for a one-bedroom condo start at $149,900. Two-bedroom units begin $189,900. Residences range from 650 to 1,100 square feet. The development is located at the corner of Litton Avenue and Gallatin Pike.

Site work is just beginning, but three-fourths of Solo East's 130 condos have already been purchased, said Bruce McNeilage, a partner in Harpeth Development.

It tells me this project is needed," said McNeilage. "The price point is unmatched, and there's more demand than supply."

Reach Bill Lewis at 615-262-5862 or wlewis77229@comcast.net.