Westhaven Real Estate Market Update October 2010 – Westhaven Subdivisions in Williamson County Franklin, TN Total Market Overview

Welcome to the October edition of the proprietary Grumbles Team Westhaven Market Update. This month there are still 92 active homes for sale in Westhaven Subdivision in Franklin, TN. Of those active homes the average asking price is up about $10,000 from last month to $594,695. There is 7.6 months of inventory at the current absorption rate (a 6 month average has absorption rate at 12.2 homes per month), which is a minor increase from last months 7.4 months of inventory.

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In September 2010 twelve (12) homes sold in the neighborhood with the following statistics. Homes sold at an average of $525,655 (past 6 months) and that was at a negotiated 97.7% of asking price. For more details of the properties see the statistics below:

The largest property to sell in Westhaven this month sold for $879,900 with 5858 square feet. This is a positive sign for Westhaven as there are several luxury price point homes on the market as high as $1.7 Million.

Outside of Westhaven and in surrounding cities of Williamson County the following were observed. Pending ratio increased from a dismal 1.8% to 8.6%, Months of Inventory remained basically flat at 8.2 months, and the number of active homes had little change (40 homes less on the market). Our proprietary Williamson County Total Market Overview is shown below for your further analysis. We also have the data by zipcode.

As always this data is a collection and analysis of the Middle TN MLS, Realtracs and is thus prone to some error from reporting errors. Believed to be accurate information.