Westhaven Franklin TN Home Sales for November 2012 provided by Tammie White:
- Properties currently active on the market: 84
- Single-family properties closed in November 2012: 14
- Average sales price: $522,806
- Average list price: $528,178
- Sales price to list price ratio: 98.9%
- Average days on the market: 116
- Sales currently pending: 17
- Westhaven absorption rate: 6 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 normal or steady market for the second month in a row. The sales price to list price ratio remains high. That's because a large number of recent sales (9) were new construction. The Westhaven builders aren't very negotiable on their price as you can see from the table below.
The average days on the market remain high because of the spec homes that linger waiting for a buyer. The existing homes average days on the market were just 79. Even though, these homes are competing with new construction, they are selling faster. When a greater number of existing homes are sold, the sales price to list price ratio is usually lower. Indicating existing homes are a better purchase than new construction homes in Westhaven.
Buyers should always remember to have the assistance of a Buyer's Agent whenever purchasing a home including 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.
Remember the on-site agent works for the seller and his job is to make sure the seller/builder gets the most for their homes. A buyer's agent would work for the buyer to represent his interests and get the best price for the buyer. All at no cost to the buyer.
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.
NOTE: The photo featured above is of an actual home in Westhaven Franklin TN.
This is an entry into the Out with the Old in With the New contest. Look what my Westhaven Market Report used to look like.
Comments(2)