Chestnut Spring Sales of Homes in Brentwood, TN - Market trends for 2008
Sales of Homes in Chestnut Springs were down 60% in 2008 over 2007 sales. The average sales price was down about 3% , but the Days on the Market were up over 100 days. The numbers are as follows:
Number of Homes sold in 2007 : 18
Number of Homes sold in 2008 : 7
Average Days on the market in 2007: 66
Average Days on the market in 2008: 101
Average Sales Price 2007: $306,598 or $145/sqft
Average Sales Price 2008: $309,571 or $141/sqft
Chestnut Springs sales prices were not down a lot, but the number of sales was down significantly AND only 1 of the 7 homes closed in September and none after that. There are currently no pending sales and there are 7 active listings on the market. This would indicate that there is a full year supply of inventory in this neighborhood. The active listings have been on the market for an average of 146 days.
Since the big market upset in September and October, sales have slowed dramatically. Buyers are becoming more market savvy and are looking for deals.
Connie Harvey is a Residential Real Estate Agent in Middle Tennessee, including Franklin, Brentwood and Nashville. She is experienced in Listing and Selling all types of homes, assisting Buyers both local and relocating to Tennessee to find homes that meet your needs.
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