Nashville Tennessee Living

Franklin TN Real Estate - River Landing 2010 Mid-Year Market Report

River Landing has had two properties sell this year. That is double the number they had in 2009 in the first half of the year. There are currently 4 homes on the market, 2 of them have inspection contingencies. All of this information leads us to believe that the market is, indeed, picking up in this area.

The homes in the front section of River Landing were built by Drees and Beazer Homes. Those in the rear portion of the neighborhood were either built by them or custom builders. The homes in the back are also larger and tend to sell for quite a bit more.

River Landing homeowners have the option to join the Legends Ridge swimming club. There is a bike path that runs the length of River Landing Drive. It's blacktop and perfect for running, walking or biking. The views of the farm adjacent are peaceful and relaxing.

River Landing 2009 Year End Market Report

Franklin TN Real Estate - Founders Pointe 2010 Second Quarter Market Report

Founders Pointe consistantly out performs other neighborhoods in Franklin and Middle Tennessee. The Franklin/Brentwood area saw sales increase of almost 30% over the same time in 2009. Founders Pointe sales are up 260% over the same period.

With 5 Active and one Pending there is just a 2.5 month supply of homes for sale. Compare this to the 7.5 months supply that exists almost everywhere else and it's almost considered a shortage. We've been celebrating that inventory has finally being reduced in most areas! But it is still a Buyers Market. Prices here have also fallen less than in many of the Middle Tennessee neighborhoods.

Founders Pointe sits on the west side of Franklin but is just minutes to all the fun activities that Franklin has to offer. It has it's own swimming pool and mini-parks with play areas scattered through the neighborhood. Will sidewalks on all the streets this kids are safe to play outside.

Homes in this neighborhood are mostly priced between $250,000 and $350,000 and have between 2000 square feet and 3200 sqft. The average home is usually 4 bedrooms with 2 full and 1 half bath at about 2600 to 2800 square feet.

Founders Pointe 2009 Market Report

Franklin TN Real Estate - Chestnut Bend  2010 Spring Market Report

Chestnut Bend had 4 sales in the first quarter of 2009. There was only 1 in 2010. There are currently 6 properties for sale, 2 with contingencies and one Pending. The numbers look like this:

2009

4 Sales

Average List Price:  $472,900

Average Sales Price:  $462,500

Average Days on the Market:  102

Of the 4 sales in 2009, the average size of the home was 3816 square feet. They sold at an average of $119.79/square foot. The Sale in 2010 was 3400 square feet and sold at $113.24/sqft. Down approximately 5%.

The Active listings in Chestnut Bend have been on the market for an average of 49 days with an average asking price of $472,250. With 2 of them already under contract it appears that the second quarter is going to have much stronger results.

Franklin TN Real Estate has seen an 18% increase in sales this spring or the 2009 First Quarter sales. There are currently 1087 active homes for sale and 178 pending. 56% of the pending sales are new construction. Local Builders have to be excited about that.

If you're looking to Buy or Sell a home in Franklin TN, contact Connie Harvey. She knows Franklin and can help you.

Franklin TN Real Estate - Founders Pointe 2010 Spring Market Report

Founders Pointe always has numbers unlike other neighborhoods in Middle Tennessee. It's a popular neighborhood and the homes sell well year after year. In 2008 when I did a market report there were absolutely no expired or withdrawn for the entire year. That means that everyone who put their home on the market sold it! That's remarkable!

Sales haven't changed much either from 2009 to 2010 for the first quarter. Prices are just down 2%.

The number of homes currently under contract leads us to believe that Second Quarter Sales will probably be up. There are currently 6 properties for sale and 2 pending. Of the 6 for sale, 3 have contingencies on them. The average asking price is $299,508 which would appear to be down. But on closer examination, you see that size is just 2530 square feet compared to 2856 for those closed. 

Inventory is low in Founders Pointe. Even though there is, in general, a 15 month supply of homes in Franklin, now would be a great time to be listed in Founders Pointe. The pool will open soon and people love to be able to use it in the summer!

Franklin TN Real Estate on the other had shows a decrease in sales price of 11% even though the number of sales went up first quarter from 173 in 2009 to 212 in 2010. That's an  increase of 18%! There are currently 1087 homes for sale in Franklin. There are 178 properties pending. Of those, 100, or 56%, are new construction.

Franklin TN Real Estate - Founders Pointe 2009 Market Report

Founders Pointe is one of the few subdivisions that continues to not follow the trends here in Middle Tennessee. Last year we posted that their 2008 sales were strong and that EVERY home that was listed in 2008 SOLD. There were no expired or withdrawn listings. That's amazing for a neighborhood that size.

Here we've charted 2007, 2008 and 2009 so you can see how prices and sales have changed over the last couple of years.

Prices were up in 2008, where they were already declining in most areas, and down in 2009 but not an earth shattering amount. The number of sales going down is a truer reflection of the general market but we're expecting that to go back up in 2010.

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Connie Harveyis a Full Time agent with Prudential Woodmont Realty, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals.

Connie can be reached at 615-661-7800 x 1300 or at HarveyC@realtracs.

Follow her Blog: Nashville Tennessee Living

Franklin TN Real Estate - River Landing 2009 Market Report

River Landing continues to ride a roller coaster with their prices going up and down each year in an attempt to get themselves stabilized. It doesn't help that one year the homes in the front of the subdivision sell and the next year those, larger and more expensive, in the back sell.

River Landing also suffered some of what I call the Nissan effect. That's where the Nissan employees moved here from Southern California in 2006. Many of them sold their million dollar bungalows and were able to pay cash for their sprawling newer homes here. It drove up the prices in some neighborhoods and we're still trying to get them back to realistic pricing.

The number of sales decrease is consistent with this price range throughout Williamson County. Middle Tennessee home sales in general are down around 10% with the lower entry level homes down only 2% for the year and the larger homes down much more.

Franklin TN Real Estate prices and sales are down 13% and 4% respectively. More for the number of homes sold but less for the prices as compared with the 13 county Middle Tennessee average.

As the First time home buyers continue to gobble up the smaller homes, many of those sellers will be moving up as their finances allow. This is a trickle up industry.

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Connie Harveyis a local agent with Prudential Woodmont Realty, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals.

Connie can be reached at 615-661-7800 x 1300 or at HarveyC@realtracs.

Follow her Blog: Nashville Tennessee Living

Franklin TN Real Estate - Chestnut Bend  2009 Market Report

Chestnut Bend prices have finally stabilized and sales have increase a full 50 % over 2008. Homeowners saw their home prices decrease up to 22% when prices fell from their high in 2007.

In 2006 Nissan moved their corporate headquarters to Franklin in Middle Tennessee. Several neighborhoods quickly became favorite, thus driving up the prices of homes to  numbers we had not seen.

Chestnut Bend was one of the neighborhoods that became very popular. Backing up to Franklin High School with its International Baccalaureate program and overall High Scholastic scores made it a great fit for those wanting newer homes in Franklin with many amenities.

The average sales price in 2005 was $427,860, in 2006 $519,481 and in 2007 $544,694. Those who bought in 2006 and 2007 and have since been relocated saw that their equity had disappeared in a similar fashion to cities they read about in the newspaper. In 2008 the average sales price decreased 18%. One of the largest drops in Middle Tennessee.

Meanwhile, the Franklin TN Real Estate market saw the sales rise from 2005 through 2007 and also had an adjustment, just not as steep:

There are currently only 2 homes on the market in Chestnut Bend. This would normally be considered Low Inventory. As we see the local market continue to pick up, these homes have positioned themselves well. There are currently 907 homes on the market in Franklin TN with an median asking price of $449,900.

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Connie Harveyis a local agent with Prudential Woodmont Realty, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals.

Connie can be reached at 615-661-7800 x 1300 or at HarveyC@realtracs.

Follow her Blog: Nashville Tennessee Living

Franklin TN Real Estate - River Landing Fall 2009 Market Report

At first glance, it appears that River Landing sales and prices are spiraling to the abyss. Looking back as far as 2007 and then seeing each individual sale, the numbers look much better than the following will report.

The number of sales in River Landing have been as follows: 12 in 2007, 9 in 2008 and so far 2 in 2009. There is one pending but these are actual closings from January through September. What is selling in 2009 are the more moderate priced homes. Those homes priced in the upper 600's and above are not getting the activity that they have seen in the past.

There are currently 5 homes on the market. The only one priced under $500,000 has a financing contingency. 2 of the homes are priced over $700k and one of them has been on the market for 199 days. Pricing continues to be a key issuse.

Franklin TN Real Estate in general is just ahead, at down 25% of the Nashville sales, which are down 30%. The overall sales prices in Franklin are down just 4% over 2008 and Days on the market are up 25%.

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This report is offered by Connie Harvey, Realtor with Prudential Woodmont Realty Group in Brentwood TN. Connie serves Buyers and Sellers of homes in Franklin TN, Nashville TN and Brentwood Tennessee. She can be reached at 615-661-7800 x 1300 or via email at HarveyC@Realtracs.com.

Follow her Blog Nashville Tennessee Living

Franklin TN Real Estate - Founders Pointe Fall 2009 Market Report

Sales in Founders Pointe are down dramatically over last year. In 2008 19 homes sold in the first 9 months. In 2009 just 10. The good news in this is that prices have held well and in 2008 there were NO expired or withdrawn properties. That means that everyone who put there house on the market sold it. Could it be that with the current economy that the homeowners in Founders Pointe are just more content to stay put?

Founders Pointe has always been a popular neighborhood. Parents like the schools it's zone for and there is the incredible Franklin Sports park just across the street. With sidewalks throughout, small playgrounds scattered in the neighborhood and a beautiful pool, what more can you ask for?

The Market for Franklin TN Real Estate in general is just not as bad as far as the number of sales is concerned. It's down 25%, where the Nashville sales ch are down 30%. The overall sales prices in Franklin are down just 4% over 2008 and Days on the market are up 25%.

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This report is offered by Connie Harvey, Realtor with Prudential Woodmont Realty Group in Brentwood TN. Connie serves Buyers and Sellers of homes in Franklin TN, Nashville TN and Brentwood Tennessee. She can be reached at 615-661-7800 x 1300 or via email at HarveyC@Realtracs.com.

Follow her Blog Nashville Tennessee Living

Franklin TN Real Estate - Chestnut Bend Fall 2009 Market Report

For the past couple of years, sales and sales prices have been down in Chestnut Bend. 2009 looks to be the year that sales are really turning around in this beautiful, convenient Franklin neighborhood. Sales are up 36% compared to this time last year and already 28% over the total sales of 2008. Though prices are still down a little bit, Chestnut Bend appears to be leading the area in recovery!

Notice that Days on the Market has declined 28%! Homeowners are seeing their homes sell quicker than any time in the past two years. The popularity and location of this neighborhood made it a shoe in for an early come back in this down market.

Franklin TN Real Estate in general is just ahead at down 25% of the Nashville sales, which are down 30%. The overall sales prices in Franklin are down just 4% over 2008 and Days on the market are up 25%.

This report is offered by Connie Harvey, Realtor with Prudential Woodmont Realty Group in Brentwood TN. Connie serves Buyers and Sellers of homes in Franklin TN, Nashville TN and Brentwood Tennessee. She can be reached at 615-661-7800 x 1300 or via email at HarveyC@Realtracs.com.

Follow her Blog Nashville Tennessee Living