Nashville Tennessee Living

Franklin TN Real Estate 

River Landing  2011  Market Report

Sales have picked up in the River Landing subdivision this past year, doubling the prior years sales. The Chart below shows the number of sales for the past 12 months, broken down into 3 months, 6 months and 12. Based on these numbers it lets you see the amount of inventory available.

River Landing has seen below average sales the past 2.5 years. Sales started falling off in 2007 when they went from 37 in 2005, 30 in 2006 down to 12 in 2007. It only got worse at 10 sales in 2008 but only 4 sales in each of 2009 and 2010.

Of the Active Listings in River Landing 2 have contingencies on them and one is a short sale.

Most of River Landing was built by Drees and Beazer Homes starting in 2000 with most of the homes completed by 2006. Of the 8 homes sold in the past 12 Months, one was a foreclosure and one was a short sale. There are currently 6 homes Active on the market and one Pending sale.

The inventory closely reflects the absorption rate of the Franklin TN Real Estate market in general.

Franklin TN Real Estate - River Landing 2010 Market Report

River Landing's sales were very similar to those of 2009. There were 4 closings in 2009 and again in 2010. The average size of the 4 properties went up from 4536 square feet to 4816 square feet.

The average sales price per square foot decreased from $123.40/sqft to $120.69/sqft. This doesn't mean that the prices have actually decreased. As the size of the home increased, the price/sqft often decreases as the cost to build larger is often less.

A Good example is the largest home that sold in 2009 was 5496 square feet and sold for $123.73/sqft. The largest home that sold in 2010 was 5401 and sold for $124.98/sqft. This indicates that prices and sales are holding steady in the River Landing Subdivision.

River Landing Average Days on the market decreased from 171 in 2009 to 108 in 2010. A good sign that homes moved somewhat better in 2010. On the down side, 2 of the 4 sales in 2010 were short sales, up from just 1 in 2009.

River Landing Market Reports from 2010 and before.

Franklin TN Real Estate - River Landing 2010 3rd Quarter Market Report

Two properties closed in the third quarter of 2010 compared to just one sale in the same time period of 2009. The year to date numbers are comparable with a total of 3 closings for the year in 2010 and 2 for the first 9 months of 2009.

The single fall quarter closing in 2009 was a 5643 square foot home on Gillette, selling for $650,000 or $115/square foot.

The two closings in this quarter of 2010 were smaller with one 4436 sqft selling for $541,000 and the other 5244 sqft closing at $609,000 the two averaged $119/sqft for the sales prices.

There are currently 3 homes on the market in River Landing. 2 of the three are listed as Short Sales and both have contingent contracts on them.

Franklin TN home sales, in general, were up 18.5% in the 3rd quarter of 2010 compared to the same period in 2009. The prices moved less than 1% which would probably be the margin of error anyway.

View previous River Landing Market Reports

Franklin TN Real Estate - River Landing 2010 Mid-Year Market Report

River Landing has had two properties sell this year. That is double the number they had in 2009 in the first half of the year. There are currently 4 homes on the market, 2 of them have inspection contingencies. All of this information leads us to believe that the market is, indeed, picking up in this area.

The homes in the front section of River Landing were built by Drees and Beazer Homes. Those in the rear portion of the neighborhood were either built by them or custom builders. The homes in the back are also larger and tend to sell for quite a bit more.

River Landing homeowners have the option to join the Legends Ridge swimming club. There is a bike path that runs the length of River Landing Drive. It's blacktop and perfect for running, walking or biking. The views of the farm adjacent are peaceful and relaxing.

River Landing 2009 Year End Market Report

Franklin TN Real Estate - River Landing 2009 Market Report

River Landing continues to ride a roller coaster with their prices going up and down each year in an attempt to get themselves stabilized. It doesn't help that one year the homes in the front of the subdivision sell and the next year those, larger and more expensive, in the back sell.

River Landing also suffered some of what I call the Nissan effect. That's where the Nissan employees moved here from Southern California in 2006. Many of them sold their million dollar bungalows and were able to pay cash for their sprawling newer homes here. It drove up the prices in some neighborhoods and we're still trying to get them back to realistic pricing.

The number of sales decrease is consistent with this price range throughout Williamson County. Middle Tennessee home sales in general are down around 10% with the lower entry level homes down only 2% for the year and the larger homes down much more.

Franklin TN Real Estate prices and sales are down 13% and 4% respectively. More for the number of homes sold but less for the prices as compared with the 13 county Middle Tennessee average.

As the First time home buyers continue to gobble up the smaller homes, many of those sellers will be moving up as their finances allow. This is a trickle up industry.

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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.

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Franklin TN Real Estate - River Landing Fall 2009 Market Report

At first glance, it appears that River Landing sales and prices are spiraling to the abyss. Looking back as far as 2007 and then seeing each individual sale, the numbers look much better than the following will report.

The number of sales in River Landing have been as follows: 12 in 2007, 9 in 2008 and so far 2 in 2009. There is one pending but these are actual closings from January through September. What is selling in 2009 are the more moderate priced homes. Those homes priced in the upper 600's and above are not getting the activity that they have seen in the past.

There are currently 5 homes on the market. The only one priced under $500,000 has a financing contingency. 2 of the homes are priced over $700k and one of them has been on the market for 199 days. Pricing continues to be a key issuse.

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%.

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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

River Landing Franklin TN Real Estate - Spring 2009 Market Report

In River Landing, like many of the upscale neighborhoods in Franklin TN, home sales are down. In 2008 11 homes sold in the first half of the year. Below, you will see that there has been One closing and there is One pending for the same time period.

The Closing that has occured was one of the smaller homes in the neighborhood. The sales price was down 12% from the average of 2008. As of today, we do not know what the sales price of the pending sale is, but the asking price is 30% below the same average.

There are 7 homes on the market with an average asking price of $146/square foot. I don't think the Sellers or their Realtors have looked at the comparables lately. It doesn't matter if the market is up or down some things in Real Estate don't change. It takes 5 things to sell a home: Location, Price, terms, Condition and Marketing.  If you have location, price and condition you can get by without the others. But you can NEVER have one of these without the other two.

Franklin TN Real Estate - Market Report for River Landing Subdivision 2008

Franklin TN Real Estate Spring 2009 Market Report

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Connie Harvey helps Buyers and Sellers with their Nashville TN Real Estate needs.
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Contact Connie at 615-661-7800 x 1300 or via email HarveyC@realtracs.com .

River Landing Franklin TN Real Estate - 1st Quarter 2009 Market Report

River Landing had 10 closings in 2008. There were 3 in May, 3 in June, 3 in August and one in December. There have been no Closings thus far and there are no Pending sales. There are currently 6 homes on the market which equals a 7 month supply.

In 2008 the closed homes had an average asking price of $151.50/sqft and sales price of $144/sqft. The active properties asking price this year is $143.50. Slightly below the sales price of last year and down 5%.

All signs indicate that the market in Middle Tennessee is starting to pick up. First time homebuyers are taking advantage of the $8000 tax credit incentive and are making offers on homes. Real Estate is a trickle up business. That means that as the lower priced homes sell, those moving up will begin to purchase homes in the $200,000-$300,000 price range. Those sellers will then be looking up themselves.

River Landing 2008 Market Report

Franklin TN Real Estate - 2009 First Quarter Market Report
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Connie Harvey, CRS - Realtor with Prudential Woodmont Realty Group

Franklin TN Real Estate, 2008 Market Trends for River Landing Subdivision

Sales of Homes in River Landing were down 20% in 2008 over 2007 sales. The average sales price was up about 4% , but the Days on the Market were up over 100 days. The numbers are as follows:

Number of Homes sold in 2007 : 12

Average Sales Price 2008: $681,335

Average Price/Square Foot 2007: $153.58

Average Price/Square Foot 2008: $144.29

River Landing sales prices were not down a lot, but the price/square foot was down significantly. This shows that more larger homes sold in 2008. Of the 10 sales in 2008, only ONE home closed after 8/15/08. That would indicate that since the additional Market Slowdown last summer, sales are down at a greater pace. Also, there are currently no pending sales and there are 5 active listings on the market. This would indicate that there is a six month supply of inventory in this neighborhood. The active listings have been on the market for an average of 167 days.

River Landing is such a beautiful neighborhood. It's walking/bike trail starts at the entrance and goes all the way to the river. You can look out at the adjacent farm as you wander on this partially shaded path.

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Search for Franklin TN Real Estate or visit www.ConnieHarvey.com for more information. Contact Connie Harvey at HarveyC@realtracs.com or 888-798-7800 x 1300.

Whether you're Buying or Selling Real Estate in Franklin TN, Connie is the choice for you!