About Franklin's Chestnut Bend

Franklin TN Real Estate

Chestnut Bend 2011 Market Report

Home Sales in Chestnut Bend were up somewhat in 2011 compared to those of 2010. Though the prices were down, they were only down 1%. The average sales price in Franklin overall was down 6.5% in 2011 compared to 2010.

There are currently 2 homes on the market in Chestnut Bend. That works out to be a 3.5 month supply. Franklin has a 6 month supply of homes.

Chestnut Bend is tucked neatly behind Franklin High School and opens back out by the CVS at Del Rio Pike. The Franklin Trail that runs from the Williamson County Rec Center to the river runs behind the neighborhood giving great access to immediate exercise.

Franklin TN Real Estate

Chestnut Bend 3rd Quarter 2011 Market Report

Sales have been steady in Chestnut Bend this year compared to 2010. In just the third quarter, there were 2 sales in 2010 and 3 in 2011. Spread out over the year to date months they have remained the same.

The Average List and Sale prices are down a bit, but the Sales Price per Square Foot is actually up 1 1/2%! This is good news in our economy!

Chestnut Bend currently has 4 homes on the market as active. One of these shows an Inspection Contingency. With 3 homes available, there is approximately a 4 1/2 month supply of inventory. Going into the holidays, this is a stable number of properties available.

Franklin TN Real Estate

Chestnut Bend First Half of 2011 Market Report

The Chestnut Bend neighborhood saw a slight decline in sales in the first half of 2011 compared to sales in the same period of 2010. In both years most of the sales occurred in the May-June time-frame, reminding us that those are traditionally the peak selling months for this type of home.

On closer look at the numbers, the actual prices are only down just under .5%. This chart does not show that the average size of the homes sold in 2010 were actually 8% larger than those that sold in 2011. When you calculate the square footage difference, you see that the prices have mostly remained steady.

Chestnut Bend has seen its share of the Foreclosure market, but the MLS listings of the past 2 years are not showing any of them.

If sales in Chestnut Bend continue in the second half of the year, the 3 homes that are currently active would be considered a balanced amount of inventory. There is currently one Sale Pending.

It's really hard to say that sales are down in Chestnut Bend when you only have 3-4 sales.

Franklin TN Real Estate in general was up 6% in this 6 month period, over the same period last year. Those are great numbers when you compare it to Nashville TN Real Estate, which was down almost 5%.

Franklin TN Real Estate -

Chestnut Bend 2011 Spring Market Report

Sales in Chestnut Bend are following closely to the same time period in 2010. There was one closing in the first Quarter of 2010 and the same in 2011.

The home in 2010 was listed for $415,000 and sold for $385,000. The Sales Price came in at $113/sqft.

The home in 2011 was listed for $399,900 and closed at $384,000. It Closed at $121/sqft. So the sales prices look the same but the actual Price per Square Foot increased by 7%.

Currently, in Chestnut Bend, there are 5 homes on the market with an average asking price of $465,660 or $131/sqfoot. There is one home pending at $465,000.

Chestnut Bend is tucked behind Franklin High School just off Hillsboro Road. It can also be accessed behind the CVS store at the corner of Hillsboro Road and Del Rio Pike.

The walking trails in the neighborhood actually come out in this location and wrap around by the river to where the outdoor market is often set up on the Weekends. One can actually walk to downtown Franklin from this neighborhood.

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.

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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