River Landing 2011 Market Report
Sales have picked up in the River Landing subdivision this past year, doubling the prior years sales. The Chart below shows the number of sales for the past 12 months, broken down into 3 months, 6 months and 12. Based on these numbers it lets you see the amount of inventory available.
|Market Activity the Past||3 Months||6 Months||12 Months|
|Avg # Closed/ Month||1.33||1||0.67|
|# Active Listings||6||6||6|
|# of Month Supply||4.5 Months||6 Months||9 Months|
River Landing has seen below average sales the past 2.5 years. Sales started falling off in 2007 when they went from 37 in 2005, 30 in 2006 down to 12 in 2007. It only got worse at 10 sales in 2008 but only 4 sales in each of 2009 and 2010.
Of the Active Listings in River Landing 2 have contingencies on them and one is a short sale.
Most of River Landing was built by Drees and Beazer Homes starting in 2000 with most of the homes completed by 2006. Of the 8 homes sold in the past 12 Months, one was a foreclosure and one was a short sale. There are currently 6 homes Active on the market and one Pending sale.
The inventory closely reflects the absorption rate of the Franklin TN Real Estate market in general.