Franklin TN Real Estate - Founders Pointe 2010 Spring Market Report
Founders Pointe always has numbers unlike other neighborhoods in Middle Tennessee. It's a popular neighborhood and the homes sell well year after year. In 2008 when I did a market report there were absolutely no expired or withdrawn for the entire year. That means that everyone who put their home on the market sold it! That's remarkable!
Sales haven't changed much either from 2009 to 2010 for the first quarter. Prices are just down 2%.
| 2009 | 2010 | % Change | |
| Homes Sold | 3 | 3 | 0 |
| List Price | $335,596 | $328,249 | -2% |
| Sales Price | $321,666 | $315,166 | -2% |
| Days on Market | 133 | 62 | -53% |
The number of homes currently under contract leads us to believe that Second Quarter Sales will probably be up. There are currently 6 properties for sale and 2 pending. Of the 6 for sale, 3 have contingencies on them. The average asking price is $299,508 which would appear to be down. But on closer examination, you see that size is just 2530 square feet compared to 2856 for those closed.
Inventory is low in Founders Pointe. Even though there is, in general, a 15 month supply of homes in Franklin, now would be a great time to be listed in Founders Pointe. The pool will open soon and people love to be able to use it in the summer!
Franklin TN Real Estate on the other had shows a decrease in sales price of 11% even though the number of sales went up first quarter from 173 in 2009 to 212 in 2010. That's an increase of 18%! There are currently 1087 homes for sale in Franklin. There are 178 properties pending. Of those, 100, or 56%, are new construction.
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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I was at the home builders meeting yesterday. One of the topics discussed was the reduction in inventory in many of the newer subdivisions...
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Michael - when I started looking at what had actually closed and the pendings, I was amazed at how much better new construction is doing vs. resales.