Chestnut Bend First Half of 2011 Market Report
The Chestnut Bend neighborhood saw a slight decline in sales in the first half of 2011 compared to sales in the same period of 2010. In both years most of the sales occurred in the May-June time-frame, reminding us that those are traditionally the peak selling months for this type of home.
| # Sold | List Price | Sales Price | DOM |
|
| 2010 | 4 | $455,225 | $435,000 | 38 |
| 2011 | 3 | $411,166 | $398,333 | 123 |
| % Change | -25% | -10% | -8% |
300% |
On closer look at the numbers, the actual prices are only down just under .5%. This chart does not show that the average size of the homes sold in 2010 were actually 8% larger than those that sold in 2011. When you calculate the square footage difference, you see that the prices have mostly remained steady.
Chestnut Bend has seen its share of the Foreclosure market, but the MLS listings of the past 2 years are not showing any of them.
If sales in Chestnut Bend continue in the second half of the year, the 3 homes that are currently active would be considered a balanced amount of inventory. There is currently one Sale Pending.
It's really hard to say that sales are down in Chestnut Bend when you only have 3-4 sales.
Franklin TN Real Estate in general was up 6% in this 6 month period, over the same period last year. Those are great numbers when you compare it to Nashville TN Real Estate, which was down almost 5%.
Connie Harveyis a local agent with Pilkerton Realtors, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals. She can be reached at 615-371-2474.
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