Raintree Forest First Half of 2011 Market Report
Sales have remained steady in Raintree Forest, with the same number of homes selling in the first half of 2011 as in 2010!
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Prices, in Raintree Forest, are down about 5%. The chart shows 8% but in reality, the homes that closed in this period were smaller. Adjusted for size, the prices are only down 5%. The more significant issue is that with 7 sales in the past 3 month and only 9 homes on the market, the absorption rate is just a 4 month supply of inventory.
Raintree Forest had an unusually active fall last year, closing 7 homes between August and December. If the fall months in 2011 follow this route, inventory will be close to depleted before the end of the year. That would make this an EXCELLENT time to put your house on the market. Of course homes must still be priced correctly for them to sell.
The Brentwood TN Real Estate market is almost identical to the Raintree Forest results. There were 301 sales in this time period in 2010 and 306 in 2011. Very little change. The average sales price in all of Brentwood went from $571,120 to $574,312. Virtually no change at all.
If you are thinking of selling your home, consider having a Realtor, knowledgeable about Raintree Forest, give you a detailed market analysis.