Franklin TN Real Estate, 2008 Market Trends for River Landing Subdivision
Sales of Homes in River Landing were down 20% in 2008 over 2007 sales. The average sales price was up about 4% , but the Days on the Market were up over 100 days. The numbers are as follows:
Number of Homes sold in 2007 : 12 Number of Homes sold in 2008 : 10 Average Days on the market in 2007: 90 Average Days on the market in 2008: 119 Average Sales Price 2007: $655,641
Number of Homes sold in 2007 : 12
Number of Homes sold in 2008 : 10
Average Days on the market in 2007: 90
Average Days on the market in 2008: 119
Average Sales Price 2007: $655,641
Average Sales Price 2008: $681,335
Average Price/Square Foot 2007: $153.58
Average Price/Square Foot 2008: $144.29
River Landing sales prices were not down a lot, but the price/square foot was down significantly. This shows that more larger homes sold in 2008. Of the 10 sales in 2008, only ONE home closed after 8/15/08. That would indicate that since the additional Market Slowdown last summer, sales are down at a greater pace. Also, there are currently no pending sales and there are 5 active listings on the market. This would indicate that there is a six month supply of inventory in this neighborhood. The active listings have been on the market for an average of 167 days.
River Landing is such a beautiful neighborhood. It's walking/bike trail starts at the entrance and goes all the way to the river. You can look out at the adjacent farm as you wander on this partially shaded path.
Whether you're Buying or Selling Real Estate in Franklin TN, Connie is the choice for you!