Franklin TN New Construction Home Sales for September 2011

New construction sales in Franklin TN are looking up. Of the 117 home sales that closed in Franklin for the month of September, 36 or 30.8%, almost a third of the total sales, were new construction homes. For September 2010 the new construction home sales were 15. That is a 140% increase over the closed new construction home sales for the same period last year.

Franklin TN New Construction Home Sales for September 2011 provided by Tammie White:

• Properties currently active on the market: 160
• Single-family new construction homes closed in September 2011: 36
• Average sales price: $434,882
• Average list price: $438,016
• Sales price to list price ratio: 99.3%
• Average days on the market: 93
• Sales currently pending: 69
• Franklin TN new construction absorption rate: 4.4 months of inventory (5-6 months of inventory is considered a normal market--four months or less is considered a sellers' market, more than 7 months is considered a buyers' market).

With a little over 4 months of new construction inventory, it's easy to see that sellers are in a seller's market. Inventory is low and are selling for almost 100% of asking. Here is the breakdown of new construction neighborhoods in Franklin TN that had closed sales during September 2011:

Avalon - 1

Barclay Place - 1

Belle Vista - 1

Breezeway - 3

Chardonnay - 1

Durham Manor - 1

Gateway Village - 2

Historic Franklin - 1

Ladd Park - 9

McKay's Mill - 2

Villages of Clovercroft - 3

Westhaven - 11

Of the 160 Franklin TN new construction homes currently active, 19 are already under contract that have not been moved into pending yet. Remember, when buying new construction homes it is important to have buyer's representation. This insures that your interests will be represented during the transaction. The on-site agent is there to represent the seller's interest which means it's his job to get the best price for the seller. You want an agent who will get the best price for you..

If you are interested in a Franklin TN home for sale or wish to sell your Franklin TN home, contact Tammie White at (615) 495-0752.