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
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 listi
ngs 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.
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