The first quarter preliminary statistics are in for Franklin TN and the year is off to a very active start. I just want to go over this first quarter and them compare this quarters results with the last quarter of 2011 and see how the market is trending. I also think it would be of value comparing this years first quarter results with the first quarter of last year, January 1st 2011 through March 31st 2011.

 

First Quarter 2012
 

During the first quarter of 2012 there were a total of 275 single family homes that sold in Franklin:

Franklin Single Family Home Sales 1/1/2012 through 3/31/2012

Courtesy of Realtracs:

 

Closed  275 Properties Found    Franklin TN Real Estate
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 975 0 0 0 $98,000 $91,650 0
AVG 3,023 3.59 2.64 0.73 $435,692 $416,907 89
MEDIAN 2,913 4 2 1 $349,900 $339,481 78
MAX 13,310 9 7 3 $4,999,999 $4,100,000 442

 

We can now break these numbers down to three averages: The chart shows that Franklin homes that sold in the first quarter of 2012 were listed for an average price of $435,692 with an average list price per square foot of $144.13. The average day's on market were 89. This shows us that the average list price of homes that sold received on average 95.7% of the list price during the first quarter of 2012.

Last Quarter 2011

 

During the last quarter of 2011 there were a total of 336 single family homes that sold in Franklin:

Franklin Single Family Home Sales 10/1/2011 through 12/31/2011

Courtesy of Realtracs:

Closed  336 Properties Found   Franklin Single Family Homes
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 288 0 0 0 $62,500 $48,000 0
AVG 3,153 3.6 2.64 0.71 $428,783 $413,513 95
MEDIAN 3,053 4 3 1 $374,900 $370,835 80
MAX 10,771 6 6 4 $2,199,999 $2,008,888 835

 

We can now break these numbers down to three averages: The chart shows that Franklin homes that sold in the fourth quarter of 2011 were listed for an average price of $428,783 with an average list price per square foot of $135.99. The average day's on market were 95. This shows us that the average list price of homes that sold received on average 96.4% of the list price during the last quarter of 2011.

First Quarter 2011

 

Franklin Single Family Home Sales 1/1/2011 through 3/31/2011

During the first quarter of 2011 there were a total of 267 single family homes that sold in Franklin:

Courtesy of Realtracs:

Closed  267 Properties Found   Homes Sold 1st Quarter 2011 Franklin TN
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 500 1 1 0 $37,900 $35,000 0
AVG 3,057 3.71 2.67 0.75 $404,624 $385,076 101
MEDIAN 2,906 4 2 1 $345,000 $334,000 85
MAX 8,653 6 7 2 $2,499,900 $2,000,000 602

 

We can now break these numbers down to three averages: The chart shows that Franklin homes that sold in the first quarter of 2011 were listed for an average price of $404,624 with an average list price per square foot of $132.36. The average day's on market were 101. This shows us that the average list price of homes that sold received on average 95.17% of the list price during the first quarter of 2011.

 

Summary & Trends of These Franklin Real Estate Statistics

First Quarter 2011                            Last Quarter 2011                                First Quarter 2012

Homes Sold = 267                           Homes Sold = 336                                Homes Sold = 275

Avg. List Price = $404,624              Avg. List Price = $428,783                    Avg. List Price = $435,692

Avg. Sale Price = $385,076             Avg. Sale Price = $413,513                  Avg. Sale Price = $416,907

Avg. SP/LP Ratio = 95.17%             Avg. SP/LP Ratio = 96.4%                    Avg. SP/LP Ratio = 95.7%

Avg. Day's On Mkt = 101                Avg. Day's On Mkt = 95                       Avg. Day's On Mkt = 89

 

The information shows that they Franklin TN market continues to trend in an overall positive direction with home sales sure to pick up as we now enter the heart of the buying/selling season. The avg sale price is up approximately 8.3% in the past year with the average sale price to list price ratio stable with sellers receiving almost 96% of asking price. 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.

Now is the time for folks that are thinking of buying or selling to prepare themselves so that they can make the best decisions for such an important investment. Waiting for prices to go up further will simply cost more, and this includes most folks that are selling, as at that point we often buy another home. With rates as low as they are, that is really where the big savings are and waiting risks paying a lot more for the money that we actually pay for a home.

Whether buying or selling, for expert advise and a whole lot more, give me a call at 615-538-7490. We here at the MySearchForHomes.com Team look forward to serving you and helping you find that next great place to call home.

 

Franklin was recently ranked as one of the top 50 small Cities in the United States to start a business and is the County Seat of Williamson County. The city is located approximately 20 miles south of Downtown Nashville and is rich in history. Franklin has a very diverse economic base and continues to grow at an impressive rate.

 

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.

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

Schedule a showing by clicking here.

 

MySearchForHomes.com Team is part of Exit Realty, which is The ELITE upcoming Real Estate firm in Middle Tennessee with a dedicated group of talented agents specializing in all aspects of Real Estate from Land/Lots to Estate homes. Our Team can help you Sell your home or help you find the right home in Williamson County and the surrounding Nashville area. Agents of Darren DeMartino, Steve Manley, Jim Pewitt and Cindy Beam will make sure you get the BEST Price if selling and the BEST Deal if buying. Please don't hesitate to call one of our talented agents: we won't let you down. (615) 538-7490