Cottonwood Franklin TN Home Sales for March 2012 provided by Tammie White:
Properties currently active on the market: 7
Single-family properties closed in March 2012: 2
Average sales price: $323,250
Average list price: $337,400
Sales price to list price ratio: 95.8%
Average days on the market: 30
Sales currently pending: 2
Cottonwoodabsorption rate: 3.5 months of inventory (a normal or steady market would be 5-7 months; anything under 5 months of inventory is considered a seller's market, above 7 months is considered a buyer's market).
Cottonwood is currently in a seller's market. Of the seven homes currently listed, three are already under contract that have not been moved into pending yet. Although, this is an older neighborhood it is highly desirable.
The low inventory, high sales price to list price ratio and low average days on the market, make it a great time to sell your Cottonwood home.