The Grumbles Team presents the Westhaven Community real estate market update for mid-October 2013. This table below shows that the Westhaven community is in a Sellers Market. If you are considering to buy or sell a home in this fabulous traditional neighborhood you deserve to have the best data and to have it explained in a way that benefits you.
We understand that this data is readily available to anyone with a smartphone or tablet, but we also know that the collection and interpretation of the data is the most important factor. Buyers and sellers understand the terms “Buyers Market” and “Sellers Market” but do they or their agents understand how to tangibly define the real estate market. The table above can be expanded by clicking on the table to review the details. It shows that in Westhaven over the study period there was 101 home sold and that there is only 88 active homes to buy in the traditional Westhaven Neighborhood. The average home sold recently in Westhaven is $543,000 and is over 3000 sqft and over 3.5 bedrooms. But more significant is that the sellers did not negotiate very much on these properties during the sales negotiations. Less than 1% was the negotiating power for the past 4.5 months. This number is slightly askew due to the large number of new sales in the community but also is a reflection of the 3.05 months of inventory available which points to the market being a SELLERS MARKET.
These numbers and understanding their trends can help you as a buyer knowing how to prepare and present the best offer and also as a seller when negotiating or understanding if it is time to reduce the listing price or hold out for other offers.
In general terms, the market is neutral at about 6 months of inventory and when the inventory increases above that it is a BUYERS MARKET and the opposite is true for a SELLERS MARKET.
Before you interview an agent to list you WESTHAVEN home, please call a member of The Grumbles Team and let us show you what the market is doing and how that knowledge helps us to best market your home.
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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
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