Forrest Crossing has had a busy 2012 for Real Estate activity. The community offers a great location between downtown Franklin TN and interstate I -65 offering homeowners quick access to shopping in Cool Springs, restaurants, schools and much more.

 

Home sales have been very active in and around Franklin and Forrest Crossing in 2012 and the sales statistics are in for the second quarter of 2012. I want to review the second quarter results for the community and compare these results with the first quarter of 2012 and see how the market is trending.

 

I also think that there is value in comparing this years second quarter results with the second quarter of last year, April 1st 2011 through June 30th 2011, so that we can also get an understanding of how the market is trending for the Forrest Crossing for the past year.

 

Second Quarter 2012 - Forrest Crossing
 

During the Second quarter of 2012 there were a total of 12 homes that sold in Forrest Crossing:
 

Forrest Crossing Home Sales 4/1/2012 through 6/30/2012

Courtesy of Realtracs:

 

Closed  12 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 $194,900 $189,000 0
AVG 2,519 3.5 2.08 0.92 $282,679 $277,208 80
MEDIAN 2,585 4 2 1 $279,900 $279,500 62
MAX 3,245 4 3 1 $374,500 $361,000 229

 

We can now break these numbers down to three averages: The chart shows homes that sold in Forrest Crossing during the second quarter of 2012 were listed for an average price of $282,679 with an average list price per square foot of $112.22. The average day's on market were 80. This shows us that on average sellers received 98.06% of the list price during the second quarter of 2012.

 

First Quarter 2012 - Forrest Crossing

 

During the first quarter of 2012 there were a total of 9 homes that sold in Forrest Crossing:

Forrest Crossing Home Sales 1/1/2012 through 3/31/2012

Courtesy of Realtracs:

 

Closed  9 Properties Found   Forrest Crossing Franklin TN
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 1,209 2 2 0 $187,500 $171,000 13
AVG 2,437 3.33 2 0.78 $264,288 $253,833 70
MEDIAN 2,731 3 2 1 $265,000 $265,000 44
MAX 3,094 4 2 1 $324,900 $320,000 246

 

We can now break these numbers down to three averages: The chart shows homes that sold in Forrest Crossing during the first quarter of 2012 were listed for an average price of $253,833 with an average list price per square foot of $104.16. The average day's on market were 70. This shows us that on average sellers received 96.04% of the list price during the first quarter of 2012.

 

Second Quarter 2011 - Forrest Crossing

 

During the Second quarter of 2011 there were a total of 14 homes that sold in Forrest Crossing:
 

Forrest Crossing Home Sales 4/1/2012 through 6/30/2012

Courtesy of Realtracs:

 

Closed  10 Properties Found   Franklin TN Homes for Sale
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 1,342 2 2 0 $193,000 $181,000 21
AVG 2,294 3.2 2 0.9 $270,200 $260,350 113
MEDIAN 2,278 3 2 1 $279,450 $272,500 91
MAX 3,044 4 2 1 $325,000 $315,000 283

 

We can now break these numbers down to three averages: The chart shows homes that sold in Forrest Crossing during the second quarter of 2011 were listed for an average price of $270,200 with an average list price per square foot of $117.79. The average day's on market were 113. This shows us that on average sellers received 96.35% of the list price during the second quarter of 2011.

 

Summary & Trends of These Forrest Crossing Real Estate Statistics

Second Quarter 2012                             First Quarter 2012                         Second Quarter 2011

Homes Sold = 12                                   Homes Sold = 9                              Homes Sold = 10

Avg. List Price = $282,679                     Avg. List Price = $264,288             Avg. List Price = $270,200

Avg. Sale Price = $277,208                   Avg. Sale Price = $253,833            Avg. Sale Price = $260,350

Avg. SP/LP Ratio = 98.06%                   Avg. SP/LP Ratio = 96.04               Avg. SP/LP Ratio = 96.35%

Avg. Day's On Mkt = 80                        Avg. Day's On Mkt = 70                  Avg. Day's On Mkt = 113

 

Compare Sullivan Farms with Franklins overall Market Statistics

 

The information shows that Forrest Crossing in Franklin TN continues to trend in a positive direction. The average sale price is up by just under 6.5% more that a quarter in the past year, the average sale price to list price ratio is up for the year with sellers receiving approximately 98.06% of asking price. This shows that sellers are now listing their homes closer to what buyers are willing to pay for them. The other great news is that sales are up in Forrest Crossing over last year by 20%. The average days on market continue to trend in a positive direction as well showing us that homes are not taking as long to sell and the difference in Forrest Crossing significant from last year to this year.

 

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.

 

Please feel free to contact me for a free report and evaluation for your property, neighborhood or project.

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