Chestnut Bend Franklin TN Real Estate - 1st Quarter Market Report
Chestnut Bend had 8 closings in 2008, none of which happened the first 6 months of the year.
Already, 3 homes have closed and another 4 homes are pending. With only 4 homes on the market it looks like things have turned a corner in the neighborhood and that sales should continue at a good pace throughout 2009.
In 2008 the average asking price was $130/sqft and the selling price was $123.65/sqft. If you remove the foreclosure on Walden that sold for $89/sqft, the closings for 2009 have averaged $134/sqft in asking price and $131/sqft selling price. The days on the market also decreased from 98 days to less than half that.
The four active listings are listed at almost $140/sqft. It shows that the current Sellers are confident that the market is on the rebound.
All signs indicate that the market in Middle Tennessee is starting to pick up. First time homebuyers are taking advantage of the $8000 tax credit incentive and are making offers on homes. Real Estate is a trickle up business. That means that as the lower priced homes sell, those moving up will begin to purchase homes in the $200,000-$300,000 price range. Those sellers will then be looking up themselves.
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Franklin TN 2009 1st Quarter Market Report
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Contact Connie Harvey for more information about Chestnut Bend, Franklin TN Real Estate or any general Real Estate information in Middle Tennessee. HarveyC@realtracs.com or 615-661-7800 x 1300
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