Cottonwood Franklin TN Home Sales for August 2012 provided by Tammie White:
- Properties currently active on the market: 5
- Single-family properties closed in August 2012: 3
- Average sales price: $306,800
- Average list price: $313,600
- Sales price to list price ratio: 97.8%
- Average days on the market: 78
- Sales currently pending: 1
- Cottonwood absorption rate: 1.7 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).
Cottonwood is currently in an extreme sellers' market. Of the 5 homes currently listed, 2 are already under contract that have not been moved into pending yet. Although, this is an older neighborhood it is highly desirable.
NOTE: The above photo is of an actual home located in the Cottonwood neighborhood of Franklin TN.