Westhaven Franklin TN Home Sales for March 2012 provided by Tammie White:
- Properties currently active on the market: 93
- Single-family properties closed in March 2012: 6
- Average sales price: $514,900
- Average list price: $525,613
- Sales price to list price ratio: 98%
- Average days on the market: 76
- Sales currently pending: 17
- Westhaven absorption rate: 15.5 months of inventory (a normal or steady market would be 5-7 months; anything under 5 months of inventory is considered a sellers' market, above 7 months is considered a buyers' market).
Westhaven is currently in a buyers' market. Primarily due to the large inventory. Four of the six homes closed in March were new construction.
Since these buyers paid close to or over list price it is keeping the sales price to list price ratio high. It doesn't appear that the Westhaven builders are very negotiable on sales price.
This is especially concerning to me given the inventory in Westhaven. Buyers may be better served by purchasing an existing home in Westhaven.
Buyers should always remember to have the assistance of a Buyer's Agent whenever purchasing new construction. Many builders are very negotiable on their sales price but unsuspecting buyers don't always know this. As a Buyer's Agent, I prepare a Competitive Market Analysis for the new construction area to verify what homes are currently selling for. This gives the buyer a better indication of what they should offer. Rather than blindly agreeing to the sellers asking price.
For further info on Westhaven home sales see the following reports:
Westhaven Franklin TN Home Sales for February 2012
Westhaven Franklin TN Home Sales for January 2012
Westhaven Franklin TN Home Sales for December 2011
Westhaven Franklin TN Home Sales for November 2011
Westhaven Franklin TN Home Sales for October 2011
Westhaven Franklin TN Home Sales for September 2011
Westhaven Franklin TN Home Sales for August 2011
Westhaven Franklin TN Home Sales for July 2011
Westhaven Franklin TN Home Sales for June 2011
Westhaven Franklin TN Home Sales for May 2011
If you are interested in a Franklin TN home for sale or wish to sell your Franklin TN home, contact Tammie White, your Franklin TN REALTOR®, at (615) 495-0752.
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