Hurstbourne Park Homes for Sale Franklin TN | Market Report June 2013

Hurstbourne Park Homes for Sale Franklin TN | Market Report June 2013

Hurstbourne Park is located just a mile east of Interstate 65 off Murfreesboro Road. The 74-acre community will feature 132 homes when complete ranging in size from 2,900 to 5,500 square feet. It has over 16-acres of dedicated open green space, a private residents' clubhouse, and a swimming pool. There is an outdoor fireplace overlooking a scenic neighborhood lake.

Hurstbourne Park was originally slated to have a variety of builders. However, when the economic downturn hit, Drees Homes purchased the remaining lots. You will still find a few homes offered by small builders but the majority of the neighborhood was constructed by Drees. The first home was built in 2007 but construction continues today.

Hurstbourne Park Homes for Sale Franklin TN

Hurstbourne Park Franklin TN Market Report June 2013

• Properties currently Active on the market: 5
  
• Single-family properties closed in June 2013: 2
  
• Average sales price: $487,005
• Average list price: $484,795
• Average sales price to list price ratio: 100.5%
• Average days on the market: 32
  
• Sales currently pending: 7
  
• Hurstbourne Park absorption rate: 2.5 months of inventory (a normal or steady market would be 5 - 7 months; anything under 5 months of inventory is considered a sellers' market; anything above 7 months of inventory is considered a buyers' market).

 Hurstbourne Park is currently experiencing a sellers' market. This is good news for those who built here in 2008 and now need to sell. The average sales price to list price ratio is excellent and the average days on the market is low; a winning combination for Hurstbourne Park home sellers. It appears these homes are priced well for home buyers.

The best way to determine a list price is to have an experienced real estate agent prepare a Competitive Market Analysis. This will provide you with the current active listings and most recent closed sales so you can price your home competitively.

If you are a Hurstbourne Park home buyer, you may not want to wait too long. Home prices continue to rise because of the lack of home inventory in existing homes. Be sure to have the assistance of a Buyer's Agent, even when buying new construction. He/she will be able to provide you with a Competitive Market Analysis to determine the best purchase price. This service is provided at no cost to you; Buyer's Agents are paid by the listing brokerage company.

If you need assistance buying or selling a Hurstbourne Park homes for sale in Franklin TN today, contact

Tammie White at (615) 495-0752.