Forrest Crossing A Year in Review: Forrest Crossing had an active year in 2011 for Real Estate Sales and I want to cover and go over them so that we can all have a good understanding of the market conditions in the community.

Forrest Crossing is located in Franklin, TN and has approximately 630 homes and the community amenities include pool, club house, tennis courts and sidewalks. Ample open space provides a great atmosphere for residents to enjoy year round.

Currently as of January 4th, 2012 there are 11 homes listed as for sale:

Courtesy of Realtracs:

Active  17 Properties Found   Franklin TN Real Estate
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 1,209 2 2 0 $187,500 $0 2
AVG 2,480 3.41 2.12 0.76 $269,126 $0 84
MEDIAN 2,702 4 2 1 $269,900 $0 55
MAX 3,376 4 3 1 $339,900 $0 266

We can now break these numbers down to three averages: The chart shows that the 17 homes in Forrest Crossing Subdivision currently listed single family homes are listed for an average price of $269,126 with an average list price per square foot of $108.52 The average day's on market are currently at 84. The median number's are a reflection of half of the homes higher and half of the homes being lower in each category. This will tell me how many months of inventory we have in relation to how many sold in 2011. In 2011 we had 32 successful sales so this gives us a value of 2.67 homes sold a month as an average and reveals that we have just over six months of inventory in Forrest Crossing.

As of January 4th, 2011 we have three homes that are listed as a pending sale.

Courtesy of Realtracs:

Pending  1 Properties Found   Forrest Crossing Homes For Sale
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 3,030 4 2 1 $324,900 $0 37
AVG 3,030 4 2 1 $324,900 $0 37
MEDIAN 3,030 4 2 1 $324,900 $0 37
MAX 3,030 4 2 1 $324,900 $0 37

Although there is currently only one home listed as a pending sale, let's go ahead and break these numbers down to three averages: The chart shows that Forrest Crossing homes currently listed as pending single family home sales are listed for an average price of $324,900 with an average list price per square foot of $107.23. The average day's on market are at 37. This shows us that the average list price of the home that is a pending sale is listed at just over 8% higher than that of the homes for sale that have no offers at this point.

There were 32 properties that sold and closed in Forrest Crossing during the period of January 1st 2011 through December 31st 2011. 

Courtesy of Realtracs:

Closed  32 Properties Found   Franklin TN Homes
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 1,342 2 2 0 $193,000 $181,000 6
AVG 2,514 3.38 2.13 0.84 $281,646 $272,146 113
MEDIAN 2,530 3 2 1 $279,900 $272,500 82
MAX 4,251 5 4 2 $459,900 $435,000 448

We can now break these numbers down to four averages and a list price to sales price ratio: The chart shows that Forrest Crossing Subdivision sold properties from January 1st 2011 through December 31st 2011 were listed for an average price of $281,646, with an average list price per square foot of $112.03. The average day's on market for these sold properties were 113. The average price that properties actually sold for were $272,146. With this information we can see that the properties sold for 96.63% of the asking price. The median number's are a reflection of half of the homes higher and half of the homes being lower in each category.

Another great piece of information to understand is how the neighborhood is trending: The first six months compared with the last six months of 2011.

Forrest Crossing Closed Sales January 1st 2011 through June 30th 2011

Courtesy Of Realtracs:

Closed  23 Properties Found      January 1st Through June 30th 2011
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 1,342 2 2 0 $193,000 $181,000 6
AVG 2,484 3.35 2.17 0.83 $281,278 $272,556 99
MEDIAN 2,384 3 2 1 $279,000 $265,000 80
MAX 4,251 5 4 1 $459,900 $435,000 283

Courtesy of Realtracs:

Closed  9 Properties Found       July 1st Through December 31st 2011
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 1,360 2 2 0 $225,000 $212,000 38
AVG 2,589 3.44 2 0.89 $282,588 $271,100 148
MEDIAN 2,875 4 2 1 $290,000 $277,000 142
MAX 3,415 4 2 2 $334,900 $320,000 448

With this information we can see that during the first six months of 2011, Forrest Crossing homes for sale had an average sales price of $272,566 with an average sale price per square foot of  $109.72 with an average days on market of 99. The second six month period, July 1st 2011 through December 31st 2011 had an average sales price of $271,000 with an average sale price per sqare foot of $104.71 with an average days on market of 148. Approximately 70% of the sales occured during the first six month period of 2011.

This information is significant because it shows us that Forrest Crossing is experiencing less sales in the second half of the year, yet prices show a stable market trend in the price that buyers are willing to pay with an average sales price virtually unchanged compared with the first six months of 2011! Great news for homeowners and buyers alike. Forrest Crossing homes are fairly hard to come by as the percentage of homes that are sold is fairly small when considering the number of homes in the community. It tells me folks really like living in Forrest Crossing!

Read More Informational Blogs About Franklin TN Happenings & Real Estate

Now is the time to be in the market, whether you are selling or buying, the deals are here and for sellers, this is a great time to attract buyers. The rates for buyers are at historic lows and there is demand in our market. If you are a seller, you don't want to wait until interest rates go back up pushing more buyers out of the market.

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