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.
| 2008 | 2009 | Percent Change | |
| Average list Price | $722,644 | $584,000 | -19% |
| Average Sales Price | $689,261 | $555,000 | -20% |
| Days on the Market | 71 | 178 | 250% |
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.
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Connie Harveyis a local agent with Pilkerton Realtors, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals. She can be reached at 615-371-2474.
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Hi Connie...Looks like a Buying opportunity for Home Buyers in River Landing.
Cheers, now go put up some more Sold Signs today :O))
Fred - this is such a beautiful neighborhood, someone is going to do very well buying there this fall!