Brentwood TN Real Estate Marketing Report - First Quarter 2009

Brentwood TN Real Estate Marketing Report - First Quarter 2009

Brentwood TN Homes have been selling well even in this down market. The number of closed sales for the 1st quarter of 2009 was down  37% from 2008 or 74 from 117. There are however 40 pending transactions that could help to pull the actual numbers up next quarter.

Since the change in administrations in Washington and the beginning of the spending of the stimulus package, activity, including sales has really picked up. As Buyer confidence increases, the industry will continue to see more of a bounce back.

In 2008, the average sales price was $673,490 with homes receiving 97% of the asking price. For the first quarter of 2009, the average sales price was $671,434  is much less than 1%.  However the price received as a percentage of the asking price was reduced to 95%.  This reflects the attitude of the current Buyers. This is a Buyers’ market and buyers are demanding that Sellers take less than they desire.

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Prepared by Connie Harvey, CRS, with Prudential Woodmont Realty Group. Contact me for more information on any of these areas at HarveyC@realtracs.com or 615-661-7800 x 1300.