Brentwood TN Real Estate Trends for 2009 - Raintree Forest Market Report
The last Raintree Market Report showed sales down 75% from the same time period in 2008. Good news in this area shows that the numbers year to date, of sales, are now only down 50%. Basically, 8 homes have sold in Raintree in 2009. 4 in the first half of the year, and 4 since July. In 2008, 15 homes had sold by this time, but 12 of them sold in the first half and only 3 in the next 3 months.
This tells us that sales have picked up considerably since June.
Prices on the other hand have continued to drop. On first look, the statistic show a a decrease in AVERAGE sales price of 15%. Since there were so few closings, I was able to study them more in-depth. By deleting the sale on Highwood Hill, which sold at a bargain foreclosure sales price, the numbers show a decrease of only 3%. The last 3 properties to close averaged 3300 square feet instead of the usual 3600. This does indeed affect the average sales price.
Days on the market are up from 88 days to 133 days.
As the market continues to rebound, the prices should begin to stabilize. Homeowners in Raintree Forest and potential Buyers should feel confident that their home values have beat the market trend as far as pricing is concerned.
With their wonderful walking trails and other community amenities, Raintree Forest will always be a favorite place to live in Brentwood.
Brentwood TN Real Estate in general shows asking prices down only 1.2%. The sales prices, however, are down 5%. This shows that though prices are down, Sellers continue to ask for last years pricing. The total number of Single Family homes sold is down 18% to 365 from 445 in 2008. There are currently 514 properties on the market.
This report is offered by Connie Harvey, Realtor with Prudential Woodmont Realty Group in Brentwood TN. Connie serves Buyers and Sellers of homes in Brentwood Tennessee. She can be reached at 615-661-7800 x 1300 or via email at HarveyC@Realtracs.com.