Westhaven a great community located due west of Franklin, Tennessee is experiencing some of its lowest real estate sales in the last 12 months. Pending ratio chart above shows that we’ve been on a decline for the last few months of pending properties as a ratio to active properties. Since the peak in January, The absorption rate, the rate at which buyers are buying homes on average of the last six months, has been on a decline as well. Combined with the fact that we are now in the spring market and more houses are being listed for sale and the slower absorption rate means that the months of inventory is on the rise. This month there 100 homes actively on the market in Westhaven and at current absorption rate that’s about 14 months worth of homes.
Good news in Westhaven is that during the negotiation of home sales the only negotiating out about 1.5% of the sales price. The average sale price of the past six months in Westhaven is around $490,000. The average list price of active homes on the market in Westhaven is almost $100,000 higher than that of the sold homes. This indicates that in Westhaven smaller homes are being sold in more demand. That’s a good thing, if you are looking to sell a smaller home. But conversely it means the you may pay more if you look to buy that smaller home in Westhaven.
Either way if you’re looking for real estate agent that understands these market trends, you need to speak with the Grumbles Team. Give us a call at 615-587-5843 or find us on the web at MikeGrumbles.com.
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The Grumbles Team is our family serving your family with your real estate needs in Franklin, Tennessee 615-587-5843.
EXIT Realty of the South | 1227 Lakeview Dr. Suite 1 | Franklin | TN | 37067 | 615.550.5555
Williamson County Real Estate Agent
Each EXIT Office Independently Owned and Operated