Nashville Tennessee Living

Brentwood TN Real Estate - Raintree Forest 2010 Second Quarter Market Report

Raintree Forest is one of the few subdivisions where the prices actually increased over the same period in 2009. 2009 started off slowly with their first closing not happening until May. 2010 wasn't a lot better with only 2 properties closing the first quarter and then 6 in the second.

The sales prices were down considerably in the first 6 months of 2009. One home, in particular, sold for $350,000. This is very low for this neighborhood. This particular home backed up to large electrical lines and many Buyers are not inclined to have this view from the back of their home. When we removed it from the market report,  it put the increase at 6% instead of what would have shown as an 8% increase over 2009.

Days on the market is down by half. That should be encouraging to the 12 homes that are currently for sale. Of the 12, 2 are under contract. The average asking price is $466,650 which is probably a little too high.

Raintree Forest is a very popular place to live. With it's swimming pools, walking trails and park areas, there is something for everyone. Most of the homes were semi-custom built in the late 80s and mid 90s. In 2000 a new builder came in and developed a new section with a more contemporary interior.

Raintree Forest 2009 Market Report

Brentwood TN Real Estate - Raintree Forest 2010 First Quarter Market Report

Real Estate in the Middle Tennessee area started off slow in 2009.  With that knowledge, it's not surprising that Raintree Forest had no closings the first quarter of 2009. The 9 closing that they did have all took place after May.

With over 500 properties, Raintree probably has one of the smallest turnovers of most Brentwood neighborhoods. People love the established trees, walking trails and amenities that it offers. 

There are currently 17 active listings on the market. 4 of them have contingencies, leaving 13 available. The average list price is somewhat agressive considering the prices of those sold this year.

Brentwood Home Sales were up 28% over the same time in 2009. List Prices were down 13% and Sales Prices down just 12%. There were 104 closings in the first quarter and there are currently 70 pending. This is up significantly over 2009. There are currently 530 active listings which comes to a 15 month supply of inventory.

Brentwood TN Real Estate - Raintree Forest 2009 Market Report

Sales in Raintree Forest decreased by almost 50% in 2009 over 2008 sales. Though it is a very popular neighborhood, most of the homes were built in the late 80's and early 90's. If they haven't been updated, they fall into that area where Buyers just don't want to do anything, if they don't have to.

Brentwood TN Real Estate, like everywhere shows sales down about 10%.

The average asking price increased from $677,957 in 2008 to $682,308.

The average sales price dropped from $653,513 to $634,240 just 3% from '08 to '09.

There are currently 45 homes pending with an average Asking Price of $688,723, similar to 2009 asking prices. There are currently 425 homes on the market - a 10 1/2 month supply - with an average asking price of $828,728.

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Connie Harveyis a full time Realtor with Prudential Woodmont Realty Group in Brentwood TN. She services both Buyers and Sellers with their Real Estate need in Nashville TN, Franklin TN, Brentwood TN and surrounding areas.

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

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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.

   Brentwood TN Real Estate Market Report for Raintree Forest 2009

Raintree Forest has seen a dramatic decrease in sales in 2009. The number of closed sales is down 75% over 2008 sales. There have been only 3 closings in 2009. All of those closed in May of this year. There is currently one pending and there are 15 homes for sale.

The average asking price is down to $118.42/SF or $402,633 from the average this time last year of $136.86/SF and $504,865. What we're seeing is that the lower priced homes have started to move and the upper end continues to sit on the market. The 13% decrease in price is high for Brentwood TN home sales, where the average has stayed below 4%.

The Nashville TN Real Estate market has been slow as in other parts of the country but not nearly as dramatic. First time homebuyers are starting to act on the $8000 Tax Credit being offered. As the lower priced inventory sells, many of those homeowners will be moving up in price. Already we're seeing multiple offers on well priced properties in good condition.

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Connie Harvey provides Real Estate Services for Home Buyers and Sellers in Nashville TN, Brentwood TN, Franklin TN and surrounding areas.

Raintree Forest Brentwood TN -2009 1st Quarter Market Report

Raintree Forest, one of Brentwoods more popular neighborhoods is feeling the pain of the economic downturn somewhat harder than other Brentwood TN Home Subdivisions. In 2008 there were 5 homes that sold in the first quarter of the year. Thusfar, none have sold in the neighborhood.

There are currently 12 homes on the market priced at an average of $475,216 or $132/square foot. The average price of the homes that sold in the first 3 months of 2008 was $516,230 or $133/square foot. 

Brentwood TN Real Estate has been very lucky compared to many parts of the country. The prices are down between 1 and 4%, depending on the neighborhood. When you take into consideration the amenities in a neighborhood like this, the slight decrease is not devestating and the quality of life has not changed at all.

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Raintree Forest - 2008 market trends

Brentwood TN Real Estate Market Trends for 2008

For more information on Nashville Real Estate contact Connie Harvey at harveyc@realtracs.com or 615-661-7800 x 1300

Raintree Forest Sales of Homes in Brentwood TN - Market trends for 2008

Sales of Homes in Raintree Forest were down 6% in 2008 over 2007 sales. The average sales price was down about 5% , 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 : 17

Average Days on the market in 2007: 80

Average Days on the market in 2008: 106

Average Sales Price 2007: $510,266

Average Sales Price 2008: $492,152

Raintree Forest sales were not down a lot, nor did prices, on average, seem to drop significantly. However, of the 17 sales in 2008, only 2 homes closed after August. This is significant that the last 5 months of the year only saw 2 sales. With 8 homes currently on the market, that would give us a 16 month supply. Also the final 2 sales were on the market for much longer than the average and the list price to sales price ratio was reduced an extra 2 percent.

Since the big market upset in September and October, sales have slowed dramatically. Buyers are becoming more market savvy and are looking for deals.

With their beautiful walking trails meandering throughout the neighborhood, lovely pool and clubhouse, tennis courts, and numerous playgrounds, Raintree Forest remains one of Brenwoods' most popular subdivisions.

Brentwood TN Real Estate Market Report

Nashville TN Real Estate Market Report

About the author:

Connie Harvey is a Residential Real Estate Agent in the Nashville, Brentwood, and Franklin areas of Middle Tennessee. 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.

If you would like to see Homes in Nashville TN, Homes in Franklin TN or Homes in Brentwood TN, Visit her website at www.ConnieHarvey.com or email her HarveyC@realtracs.com.

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