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

First, Sullivan Farms is located in Franklin, TN and is split up into seven different sections. The community boasts of a number of amenities such as a private clubhouse and community pool. The 722 homes that make the entire subdivision are surrounded by lush trees and manicured common areas with sidewalks for those enjoyable evenings and weekends.

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

Courtesy of Realtracs:

Active  11 Properties Found    Franklin Tn Homes For Sale
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 2,045 0 0 0 $249,000 $0 5
AVG 2,937 3.73 2.09 0.91 $344,718 $0 90
MEDIAN 2,962 4 2 1 $339,900 $0 92
MAX 3,974 5 4 1 $449,900 $0 202

I can now break these numbers down to three averages: The chart shows that the 11 homes in Sulliavan Farms Subdivision currently listed single family homes are listed for an average price of $344,718, with an average list price per square foot of $117.37. The average day's on market are currently at 90. 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 42 successful sales so this gives us a value of 3.5 homes sold a month as an average and reveals that we have just over three months of inventory in Sullivan Farms.

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

Courtesy of Reatracs:

Pending  3 Properties Found        Sullivan Farms Homes For Sale
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 2,860 4 2 0 $298,000 $0 20
AVG 3,068 4.33 2.33 0.67 $337,466 $0 78
MEDIAN 2,957 4 2 1 $324,900 $0 88
MAX 3,389 5 3 1 $389,500 $0 127

I can now break these numbers down to three averages: The chart shows that Sullivan Park homes currently listed as pending single family home sale are listed for an average price of $337,466 with an average list price per square foot of $110.00. The average day's on market are at 78. This shows us that the average list price of homes that are pending sale are listied at just over 2% lower than that of the homes for sale that have no offers at this point. 

There were 42 properties that sold and closed in Sullivan Farms during the period of January 1st 2011 through December 31st 2011.

Courtesy of Realtracs:

Closed  42 Properties Found
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 2,359 1 1 0 $269,900 $245,200 21
AVG 2,945 3.86 2.36 0.88 $333,779 $324,817 91
MEDIAN 2,798 4 2 1 $319,900 $316,200 83
MAX 4,250 5 4 2 $474,900 $460,000 224

We can now break these numbers down to four averages and a list price to sales price ratio: The chart shows that Sullivan Farms Subdivision sold properties from January 1st 2011 through December 31st 2011 were listed for an average price of $333,779, with an average list price per square foot of $113.34. The average day's on market for these sold properties were 91. The average price that properties actually sold for were $324,817. With this information we can see that the properties sold for 97.32% 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.

Sullivan Farms Closed Sales January 1st 2011 through June 30th 2011

Courtesy Of Realtracs:

Closed  21 Properties Found   Jan 1 through June 30th 2011
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 2,517 3 2 0 $269,900 $245,200 25
AVG 2,906 4 2.38 0.9 $326,663 $317,066 94
MEDIAN 2,784 4 2 1 $319,900 $313,500 85
MAX 3,811 5 3 2 $400,000 $389,900 224

Courtesy of Realtracs:

Closed  21 Properties Found   July 1st Through December 31st 2011
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 2,359 1 1 0 $278,500 $274,500 21
AVG 2,985 3.71 2.33 0.86 $340,895 $332,568 88
MEDIAN 2,896 4 2 1 $329,900 $321,000 67
MAX 4,250 5 4 2 $474,900 $460,000 220

This information show us that during the first six months of 2011, Sullivan Farms homes for sale had an average sales price of  $317,066 with an average sale price per square foot of  $109.11 with an average days on market of 94. The second six month period, July 1st 2100 through December 31st 2011 had an average sales price of $332,568 with an average sale price per sqare foot of $111.41 with an average days on market of 88. The pace of sales was exactly the same for the first six months as compared to the last six months of 2011.

This information is significant because it shows us that Sullivan Farms is experiencing a positive trend in the price that buyers are willing to pay with an average sales price increase of over 4% in the last six months compared with the first six months of 2011! Outstanding...

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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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