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.
| # of Homes Sold | List Price | Sales Price | Days on Market | |
| 2009 | 10 | $481,970 | $460,150 | 80 |
| 2010 | 6 | $453,450 | $429,166 | 54 |
| Actual Sales | $495,600 | $476,666 | 71 | |
| %Difference | 3% | 4% | -11% |
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
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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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Connie, I think we are all wondering the same thing about the location of some of the foreclosures in our community. You have given some good ideas to tell the story of neighborhood stats in front of the numbers, even when they are positive!
Emily - Thank you. There's always a lot more involved than just black and white numbers.
Connie, Even the nice neighborhoods are not immune from foreclosure here in Houston either.