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Westhaven Franklin TN Home Sales for November 2011
Westhaven Franklin TN Home Sales for November 2011 provided by Tammie White:
Properties currently active on the market: 83 Single-family properties closed in November 2011: 8 Average sales price: $547,223 Average list price: $551,226 Sales price to list price ratio: 99.3% Average days on the market: 182 Sales currently pending: 18 Westhaven absorption rate: 10.4 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. Fifty percent of the homes closed in November 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 current economy. 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 ... more

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