Nashville Tennessee Living

Brentwood TN Real Estate

Chenoweth 2011 Market Report

The Brentwood TN Real Estate Market showed an increase in overall sales in 2011 compared to 2010. Prices on fell on average 2% this past year which indicates that the market is beginning to stabilize.

Chenoweth may have seen a decrease in sales instead of the increase seen elsewhere, but their prices were only down 1%.

With only 4 homes currently for sale in Chenoweth, the absorption rate is down to a 4 month supply of homes for sale.

The Nashville TN Real Estate market reported that sales were up 1.8% in Middle Tennessee compared to 2010. The last quarter showed a 18% increase in sales compared to the same quarter for 2010.

The current outlook for 2012 is for sales to continue to increase in a steady fashion.

Brentwood TN Real Estate

Chenoweth Fall 2011 Market Report

Chenoweth Sales have held steady in the Third Quarter of 2011 compared to those of 2010.

The Average Sales Prices show them down 3% but the actual Price per Square Foot increased 1.5% in the 3rd Quarter compared to the same time in 2010! The Price/Sqft was $122 in 2010 and increased to $123.77 in 2011!

Chenoweth has 5 properties for sale, one with an Inspection Contingency and one Pending Sale.

This leaves less than a 3 month supply of inventory!

If our market continues along this course, we may see real recovery here in Middle Tennessee in 2012!

Brentwood TN Real Estate

Chenoweth 2011 6 Month Market Report

The number of closings in Chenoweth is down by almost half in the first 6 months of 2011 compared to the same time in 2010.

At first glance, it appears that the prices are also down by 3%. Looking closer at the actual sales, the average Sales Price/Square Foot is actually up 4% this year.

This is great news in this economy!

Chenoweth is ideally situated between Edmondson Pike and Concord Road. Its easy access to Brentwood, Cool Springs and Downtown make it an ideal location for commuting.

The Brentwood TN Real Estate market report for the same time period shows the sales down only 1% and the prices are down, but less that 1%.

Comparing these numbers to the Middle TN Real Estate market in general where sales are off almost 11% and prices have decreased almost 5%. Much of that is due to the Tax Incentive offered in 2010.

Chenoweth currently has 8 homes on the market which is a 12 month supply. It's a little higher inventory that is seen in other parts of Williamson County where there are actually areas with low inventory.

Brentwood TN Real Estate

Chenoweth 2011 First Quarter Market Report

First quarter sales were down a good bit in Chenoweth. In 2010, 4 properties sold in the First Quarter with an average sales price of $561,225.

As of April 1 2011, no homes had sold. There was one Pending property, listed at $689,900.

The reason for the huge price difference is that the pending home is 6338 Square Feet and the properties that sold in 2010 averaged 4538 sqft. The pending home has since closed with a sales price of $635,000. This property was on the market for 144 days. The homes that sold in 2010 averaged just 97 days.

Currently there are 5 homes on the market with an average List Price of $559,160 and average size of 4090sqft. these homes have been on the market for an average of just 49 days.

Chenoweth is still a very attractive choice of neighborhood in the western side of Brentwood TN. It's just off Concord Road at Edmondson pike which makes it very accessible to Nashville, Nolensville, Cool Springs and of course downtown Brentwood.

Brentwood TN Real Estate - Chenoweth 2010  Market Report

Chenoweth posted remarkable numbers in 2010. We've been reporting sales down up to 30% in most areas of middle Tennessee. Chenoweth on the other hand showed a 150% increase in sales over 2009. Sales were not just up but prices were up too, even if just modestly!

Brentwood also saw, in general, sales up but only 24%. Not that 24% is bad.

Since we post the Listing and Sales Prices as average, the report on Brentwood would show that the average Asking Price decreased  from $682,308 to $611,785 and the average Sales Price dropped from $634,240 to $582,118. On closer look, one sees that of the 483 properties that sold in 2009, the maximum size was 19,935 square feet with a highest sales price of $5,000,000. Compare that to the Maximum size in 2010 out of 599 properties sold was only 13,408 square feet or 33% less.

If we look at the Median Prices, 2009 had a Median Asking Price of $549,905 and Selling Price of $533,000. In 2010 the Median Asking Price was $549,905 and Selling Price of $530,000. Looks like the Median Prices are stable.

The Median Price is the point where half of the prices are above this number and half are below.

Don't forget to join the Chenoweth Community Page on Facebook!

Chenoweth 1st Quarter Market Report

Chenoweth 2nd Quarter Market Report

Chenoweth 2009 Market Report

Brentwood TN Real Estate - Chenoweth 2010 Second Quarter Market Report

The breakdown of the Chenoweth numbers was a little unusual this period. Sales were up considerably and it appears on the surface that prices were also up a good bit. After looking much closer to the details, one sees that the homes that sold in 2010 were much larger than those that sold in 2009 in the same time period.

The 5 homes that sold in the first half of 2009 averaged 3521 square feet. Those in that sold in the same period of 2010 averaged 4075 sqft. The actual Price/Square foot also looks to be down but larger homes naturally sell for less per square foot.

Chenoweth, in general one would probably say that the neighborhood mostly maintained its value. Not bad news for our current market.

Real Estate in Brentwood TN saw an increase in sales of close to 32% but the average sales price was down just over 13%. Once again, one must look at all of the numbers. In 2009 a property sold for $5 million with over 19,000 square feet. It has to throw off the numbers.

Brentwood TN Real Estate - Chenoweth 2010 First Quarter Market Report

Chenoweth, like many middle Tennessee neighborhoods started 2009 slowly with only one closing in the first quarter. They picked up during the spring, which is still the peak selling time and ended up closing a total of 6 units, the remaining 5 in the months of May, June and July.

2010 is already looking much better. Now, before you look at the numbers too much, know that the one closing in 2009 in the first quarter was a short sale. It was originally listed at $562,900. With a final sales price at $408,500 it doesn't seem right to analys the price changes from one year to the next.

Chenoweth is located down Concord Road in Brentwood. Being right before the light at Edmondson Pike makes it attractive to those that don't want to be further down Concord. It is easily 5 minutes to I-65 a little more to downtown Brentwood and Cool Springs.

There are currently 10 active properties, one of which has a contingency on it. The average asking price is $564,900 and the average days on the market are 29. Well below those that have already closed. This would indicate confidence in the market as people continue to put their homes on the market.

Brentwood TN Real Estate Trends for 2009 - Chenoweth Neighborhood Market Report

Where Chenoweth prices have held mostly steady the last 2 years, sales have not. Homes sold between $408,500, or $125 a square foot, and $715,000, or $161/sqft. The one consistent factor in all of the home sales is that Buyers no longer want to come in and update the homes they purchase.

Brentwood TN Real Estate market reflected similar outcomes in pricing but the number of units sold did not decrease as much.

For whatever reason, the sales in Chenoweth were down 30% in 2009 over 2008. The BIG NEWS on this is that all 6 sales in 2009 occurred in the first half of the year. Yes, spring is usually the busier time for home sales, but there were NO closings after July and there are currently no pendings. The average asking prices are up and there 7 homes on the market giving them a 14 month supply of inventory.

The Brentwood TN Real Estate market has only a 10 month supply of homes.

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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