Villages of Clovercroft Franklin TN Home Sales for December 2011

Villages of Clovercroft Franklin TN Home Sales for December 2011 provided by Tammie White:

• Properties currently active on the market: 4
• Single-family properties closed in December 2011: 6
• Average sales price: $383,537
• Average list price: $384,059
• Sales price to list price ratio: 99.9%
• Average days on the market: 66
• Sales currently pending: 1
• Villages of Clovercroft absorption rate: .7 months of inventory (a normal or steady market would be 5-7 months; anything under 5 months of inventory is considered a seller's market, above 7 months is considered a buyer's market).

Villages of Clovercroft is in an extreme seller's market with less than a month of inventory. Of the six closed sales in December, five were new construction. With selling prices near or over 100% of asking, it appears that the builder, Jones Company, is not being very negotiable on their sales price.

This is especially concerning to me given the current economy. Buyers may be better served by purchasing an existing home in Villages of Clovercroft.

Buyers should always remember to have the assistance of a Buyer's Agent whenever purchasing new construction. Many builders are very negotiable on their sales price but unsuspecting buyers don't always know this. As a Buyer's Agent, I prepare a Competitive Market Analysis for the new construction area to verify what homes are currently selling for. This gives the buyer a better indication of what they should offer. Rather than blindly agreeing to the sellers asking price.

If you are interested in a Franklin TN home for sale or wish to sell your Franklin TN home, contact Tammie White, your Franklin TN REALTOR®, at (615) 495-0752.