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Franklin TN Real Estate

Chestnut Bend 2011  Market Report

Home Sales in Chestnut Bend were up somewhat in 2011 compared to those of 2010. Though the prices were down, they were only down 1%. The average sales price in Franklin overall was down 6.5% in 2011 compared to 2010.

There are currently 2 homes on the market in Chestnut Bend. That works out to be a 3.5 month supply. Franklin has a 6 month supply of homes.

Chestnut Bend is tucked neatly behind Franklin High School and opens back out by the CVS at Del Rio Pike. The Franklin Trail that runs from the Williamson County Rec Center to the river runs behind the neighborhood giving great access to immediate exercise.

Franklin TN Real Estate 

Chestnut Bend  3rd Quarter 2011  Market Report

Sales have been steady in Chestnut Bend this year compared to 2010. In just the third quarter, there were 2 sales in 2010 and 3 in 2011. Spread out over the year to date months they have remained the same.

The Average List and Sale prices are down a bit, but the Sales Price per Square Foot is actually up 1 1/2%! This is good news in our economy!

Chestnut Bend currently has 4 homes on the market as active. One of these shows an Inspection Contingency. With 3 homes available, there is approximately a 4 1/2 month supply of inventory. Going into the holidays, this is a stable number of properties available.

Franklin TN Real Estate 

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.

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%.

Franklin TN Real Estate -

Chestnut Bend  2011 Spring Market Report

Sales in Chestnut Bend are following closely to the same time period in 2010. There was one closing in the first Quarter of 2010 and the same in 2011.

The home in 2010 was listed for $415,000 and sold for $385,000. The Sales Price came in at $113/sqft.

The home in 2011 was listed for $399,900 and closed at $384,000. It Closed at $121/sqft. So the sales prices look the same but the actual Price per Square Foot increased by 7%.

Currently, in Chestnut Bend, there are 5 homes on the market with an average asking price of $465,660 or $131/sqfoot. There is one home pending at $465,000.

Chestnut Bend is tucked behind Franklin High School just off Hillsboro Road. It can also be accessed behind the CVS store at the corner of Hillsboro Road and Del Rio Pike.

The walking trails in the neighborhood actually come out in this location and wrap around by the river to where the outdoor market is often set up on the Weekends. One can actually walk to downtown Franklin from this neighborhood.

Franklin TN Real Estate - Chestnut Bend  2010  Market Report

Chestnut Bend has had an unusually high number of foreclosures. It's an upscale neighborhood with beautiful homes on beautiful lots and one has to wonder why the higher foreclosure rate. There aren't always easy answers to these questions. Sales, themselves are down, but the overall prices are up.

You'll notice that we've added a line on this report to show just true home sales.

The three sales for 2010 that were deleted were one add as a comparable only. That means that it was a private sale which caused the reduced price. The next was a foreclosure and the third was a Corporate Relocation. In Relocation houses, the company often slashes the price to get the home out of their inventory.

There were actually 12 sales in 2009 but we deleted the foreclosures, which closed in the mid 300s, to give you a more accurate look at what the market is really doing in Chestnut Bend.

Chestnut Bend currently has 4 homes on the market and one of them has an inspection contingency. That leaves 3 which is in line with the number of homes that sell each year.

Chestnut Bend has some of the nicest walking trails and bike trails of any community in Franklin.

How do Franklin TN home sales compare to those in Chestnut Bend?

Franklin Closed 1087 homes in 2009 and 1297 in 2010, up 20%. Asking Prices went from $359,133 in 2009 to $361,607 in 2010, up less than 1%. Sales Prices went from $345,000 to $351,900, up 2%.

Chestnut Bend Market Reports for 2010 and 2009

Don't forget to join the Chestnut Bend Community Page in Facebook

Franklin TN Real Estate - Chestnut Bend prices starting to rebound!

The number of home sales is down in Chestnut Bend but the prices seem to be recovering. At first glance it appears that they are continuing to fall, but that's just not the case. This is the 3rd quarter sales report showing the figures as to how they compare with the same time period in 2009.

From this chart, it looks like not only are sales down, but prices as well. The two properties that sold do show a lower average price but one of the properties was a foreclosure and shouldn't be used to determine actual market data.

The other Chestnut Bend property sold for $480k or $132/square foot. The average price/square foot (sqft) in the same time period of 2009 was $124.45/sqft an increase of 6%.

Home Sales in Franklin TN were up 18.5% in the 3rd quarter 2010 over the same quarter in 2009. Prices were up 1%.

Franklin TN Real Estate - Chestnut Bend  2010 Second Quarter Market Report

Chestnut Bend's sales are down for the year but those properties that did close are up 4% in their sales price per square foot. The following chart shows the average list prices and sales prices:

The bigger difference is the properties that sold. All of the homes that sold in 2010 were between 3100 and 3600 square feet. Those that sold in 2009 averaged 3972sqft with the price/square foot ranging from $87.45/sqft to a high of $131.85/sqft.

There are currently 5 homes on the market with an average asking price of $486,320 or $128/sqft. There is one pending with an asking price of $409,900 or $114.56/sqft.

Chestnut Bend is situated behind Franklin High School and almost across the street from the Kroger, and less than a mile to downtown Franklin. There are walking trails and a community pool. The walking trails connect over to the CVS on Hillsboro Road and the Community College and Maggie's Dog Park at the other end.

Franklin TN Real Estate sales were up 32% in 2010 over the same period in 2009. The average sales price fell 7% with days on the market also falling 7% to 88. The maximum sales price in 2009 was $2,300,000 with almost 12000 square feet. 3 properties sold over $3,000,000 in 2010 the largest being the famous Alan Jackson farm at $28,000,000.

Franklin TN is often listed in the top 10 small towns in the United States as places to live with a good quality of life. It is certainly popular in Middle Tennessee. Last Week the Williamson County fair ended  with the number of attendees up over 20%. This was remarkable because of the hotter than normal weather.

Chestnut Bend 2010 Spring Market Report

Chestnut Bend 2009 Market Report, the year in review.

Franklin TN Real Estate - Chestnut Bend  2010 Spring Market Report

Chestnut Bend had 4 sales in the first quarter of 2009. There was only 1 in 2010. There are currently 6 properties for sale, 2 with contingencies and one Pending. The numbers look like this:

2009

4 Sales

Average List Price:  $472,900

Average Sales Price:  $462,500

Average Days on the Market:  102

Of the 4 sales in 2009, the average size of the home was 3816 square feet. They sold at an average of $119.79/square foot. The Sale in 2010 was 3400 square feet and sold at $113.24/sqft. Down approximately 5%.

The Active listings in Chestnut Bend have been on the market for an average of 49 days with an average asking price of $472,250. With 2 of them already under contract it appears that the second quarter is going to have much stronger results.

Franklin TN Real Estate has seen an 18% increase in sales this spring or the 2009 First Quarter sales. There are currently 1087 active homes for sale and 178 pending. 56% of the pending sales are new construction. Local Builders have to be excited about that.

If you're looking to Buy or Sell a home in Franklin TN, contact Connie Harvey. She knows Franklin and can help you.

Franklin TN Real Estate - Chestnut Bend  2009 Market Report

Chestnut Bend prices have finally stabilized and sales have increase a full 50 % over 2008. Homeowners saw their home prices decrease up to 22% when prices fell from their high in 2007.

In 2006 Nissan moved their corporate headquarters to Franklin in Middle Tennessee. Several neighborhoods quickly became favorite, thus driving up the prices of homes to  numbers we had not seen.

Chestnut Bend was one of the neighborhoods that became very popular. Backing up to Franklin High School with its International Baccalaureate program and overall High Scholastic scores made it a great fit for those wanting newer homes in Franklin with many amenities.

The average sales price in 2005 was $427,860, in 2006 $519,481 and in 2007 $544,694. Those who bought in 2006 and 2007 and have since been relocated saw that their equity had disappeared in a similar fashion to cities they read about in the newspaper. In 2008 the average sales price decreased 18%. One of the largest drops in Middle Tennessee.

Meanwhile, the Franklin TN Real Estate market saw the sales rise from 2005 through 2007 and also had an adjustment, just not as steep:

There are currently only 2 homes on the market in Chestnut Bend. This would normally be considered Low Inventory. As we see the local market continue to pick up, these homes have positioned themselves well. There are currently 907 homes on the market in Franklin TN with an median asking price of $449,900.

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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

Franklin TN Real Estate - Chestnut Bend Fall 2009 Market Report

For the past couple of years, sales and sales prices have been down in Chestnut Bend. 2009 looks to be the year that sales are really turning around in this beautiful, convenient Franklin neighborhood. Sales are up 36% compared to this time last year and already 28% over the total sales of 2008. Though prices are still down a little bit, Chestnut Bend appears to be leading the area in recovery!

Notice that Days on the Market has declined 28%! Homeowners are seeing their homes sell quicker than any time in the past two years. The popularity and location of this neighborhood made it a shoe in for an early come back in this down market.

Franklin TN Real Estate in general is just ahead at down 25% of the Nashville sales, which are down 30%. The overall sales prices in Franklin are down just 4% over 2008 and Days on the market are up 25%.

This report is offered by Connie Harvey, Realtor with Prudential Woodmont Realty Group in Brentwood TN. Connie serves Buyers and Sellers of homes in Franklin TN, Nashville TN and Brentwood Tennessee. She can be reached at 615-661-7800 x 1300 or via email at HarveyC@Realtracs.com.

Follow her Blog Nashville Tennessee Living