Chestnut Bend Sales of Homes in Franklin, TN - Market trends for 2008
Sales of Homes in Chestnut Bend were down 10% in 2008 over 2007 sales. The average sales price was down about 18% , and the Days on the Market were up over 170 days. The numbers are as follows:
Number of Homes sold in 2007 : 9
Number of Homes sold in 2008 : 8
Average Days on the market in 2007: 95
Average Days on the market in 2008: 179
Average Sales Price 2007: $544,694
Average Sales Price 2008: $446,875
Chestnut Bend sales prices were not down only in 2008, but began going down in the fall of 2007. There were no closing the entire first half of 2008. By the first closings in July '08, prices were down about 10%. Prices continued to fall and saw a total decline of 18% on average.
Currently there are 2 home pending and one with a contingency. Until these close one will not know the current trend in this neighborhood. There are an additional 4 houses on the market, a 6 month supply.
About the author:
Connie Harvey is a Residential Real Estate Agent in the Nashville, Brentwood, and Franklin Tennessee. She is experienced in Listing and Selling all types of homes, assisting Buyers both local and relocating to Tennessee to find homes that meet your needs.
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