Henley Franklin TN Home Sales for August 2011

By
Real Estate Broker/Owner with Franklin Homes Realty LLC

Henley Franklin TN Home Sales for August 2011 provided by Tammie White:

  • Properties currently active on the market: 6Henley Franklin TN Homes for Sale
  • Single-family properties closed in August 2011: 2
  • Average sales price: $500,750
  • Average list price: $511,610
  • Sales price to list price ratio: 97.9%
  • Average days on the market: 80
  • Sales currently pending: 0
  • Henley absorption rate: 3 months of inventory (a normal or steady market would be 5-7 months; anything under 5 months of inventory is considered a seller's market, above 7 months is considered a buyer's market).

Based upon the numbers alone, it would appear that Henley is in a seller's market. However, the sales over the last three months have been primarily due to short sales and foreclosures.

Of the 6 homes currently available, 2 are foreclosures. There has never been a better time to buy a home in Henley.

Homes that previously sold in the high $600,000 to low $800,000's are now selling under $500,000. It all began two months ago when Dave Ramsey purchased a foreclosure in this neighborhood for cash. As a well-known financial guru in Franklin TN, people take note when he buys. In my opinion, buyers are willing to venture into Henley because of his investment there. That is good news for this little neighborhood of approximately 30 homes.

I was a selling agent on a foreclosure in Henley just two weeks ago. The banks are anxious to take advantage of this recent influx of activity. If you would like to purchase a home in Henley, contact me today.

If you are interested in a Franklin TN home for sale or wish to sell your Franklin TN home, contact Tammie White, your Franklin TN REALTOR®, at (615) 495-0752.

Posted by
Tammie White, Managing Broker/Owner
CLHMS, CRS, GRI, SFR
Franklin Homes Realty LLC
Franklin, TN
(615) 495-0752 
GET REAL. GET LOCAL.
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Franklin Homes Realty LLC. Any party who uses this material without the written permission of Tammie White is subject to copyright infringement and possible lawsuit.

Comments (6)

Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Hi Tammie. This home sales report together with a list of the best homes for sale in Franklin is a must read for every buyer in your area. As an expert Franklin TN Short Sale Agents, your posts always have the information and the tools that are very helpful to your readers.

 

Sep 21, 2011 01:23 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Tammie:  Whether it's homes in Henley, Franklin, or elsewhere in your area of Tennessee .. your posts just smack of sound reasoning and are chock full of important insight and facts.  Your style of presentation and reasoning just makes good sense to me each and every time.  The addition of the Dave Ramsey info is useful insight into your market.  Perfect!  Hope everyone looking for or selling homes in Henley Franklin TN contact you ...

Gene

Sep 21, 2011 03:52 AM
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Tammie: Very informative report, looks like all the sellers are well educated with the market price since the Sales price to list price ratio is 97.9% and 3 months of absorption is also good news!


Sep 21, 2011 04:26 AM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Katerina - I am so happy this neighborhood is making a rebound. It is such a good time to buy here.

Gene - Thanks. You just never know what will encourage a buyer to finally make the move. Dave Ramsey's recent purchase has definitely had a positive impact on this neighborhood. The residents are thrilled.

Eileen - Yes, in most cases, the banks are getting a handle on the price that is going to bring a sale.

 

Sep 21, 2011 05:37 AM
Larry & Jacque Ficek
Alaska Dream Makers - Wasilla, AK
Realtors - Wasilla Alaska

Hi there Tammy, I am a little biased on this one. My maiden name is Henley and mum and I love to visit Tennessee so your post didn't even need any stats to get my attention.

Of course the info and encouraging news about the market is great too! Sometimes just a little hope (by way of the investor) is all people need to make the buying decision.

Jacque & Larry

Sep 23, 2011 05:34 AM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Larry & Jacque - Tennessee is a beautiful place to live and visit. And this was excellent news for this development.

Sep 24, 2011 03:25 AM