The Franklin TN Real Estate market has been very strong in 2012 and the sales statistics are in for the second quarter of 2012. I want to review the second quarter results 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 moving in Franklin for the past year.

 

Second Quarter 2012
 

During the Second quarter of 2012 there were a total of 468 site built single family homes that sold in Franklin:

Franklin Single Family Home Sales 4/1/2012 through 6/30/2012

Courtesy of Realtracs:

 

Closed  468 Properties Found   Homes for Sale Franklin TN
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 800 2 1 0 $55,900 $42,500 0
AVG 3,068 3.72 2.66 0.81 $423,716 $405,817 78
MEDIAN 2,946 4 2 1 $359,900 $349,950 61
MAX 8,989 7 6 3 $3,999,900 $3,000,000 496

 

We can now break these numbers down to three averages: The chart shows that Franklin homes that sold in the second quarter of 2012 were listed for an average price of $423,716 with an average list price per square foot of $138.11. The average day's on market were 78. This shows us that the average list price of homes that sold received on average 95.78% of the list price during the second quarter of 2012.

 

First Quarter 2012

 

During the first quarter of 2012 there were a total of 276 single family home sales.

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

Courtesy of Realtracs:

 

Closed  276 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 3,066 3.64 2.68 0.74 $442,943 $423,907 89
MEDIAN 2,945 4 3 1 $349,945 $345,653 79
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 $442,943 with an average list price per square foot of $144.47. The average day's on market were 89. This shows us that the average list price of homes that sold received on average 95.70% of the list price during the first quarter of 2012.

Second Quarter 2011

 

During the second quarter of 2011 there were a total of 417 single family site built homes that sold in Franklin:

Franklin Single Family Home Sales 4/1/2011 through 6/30/2011.

Courtesy of Realtracs:

 

Closed  417 Properties Found   Homes for Sale Franklin TN
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 780 1 1 0 $84,900 $55,000 0
AVG 3,150 3.7 2.68 0.81 $439,526 $417,958 88
MEDIAN 2,985 4 2 1 $350,000 $342,000 67
MAX 12,060 7 9 4 $3,895,000 $3,227,700 69

 

We can now break these numbers down to three averages: The chart shows that Franklin homes that sold in the second quarter of 2011 were listed for an average price of $439,526 with an average list price per square foot of $139.53. The average day's on market were 88. This shows us that the average list price of homes that sold received on average 95.09% of the list price during the last quarter of 2011.

 

Summary & Trends of These Franklin Real Estate Statistics

Second Quarter 2012                             First Quarter 2012                         Second Quarter 2011

Homes Sold = 468                                  Homes Sold = 276                         Homes Sold = 417

Avg. List Price = $423,716                     Avg. List Price = $442,943             Avg. List Price = $439,526

Avg. Sale Price = $405,817                   Avg. Sale Price = $423,907            Avg. Sale Price = $417,958

Avg. SP/LP Ratio = 95.78%                   Avg. SP/LP Ratio = 95.70%            Avg. SP/LP Ratio = 95.09%

Avg. Day's On Mkt = 78                        Avg. Day's On Mkt = 89                  Avg. Day's On Mkt = 88

 

The information shows that the Franklin TN market continues to trend in a positive direction. Although the average sale price is down just under 3% in the past year, the average sale price to list price ratio is up for the year with sellers receiving approximately 95.78% of asking price. The reason for the lower average sale price is because the average home size sold is smaller this year compared to last and the other great news is that sales are up over last year buy approximately 12%. 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 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.

 
Franklin TN Real Estate - MySearchForHomes.com Team
Our Team is part of Exit Realty in and around Nashville Tennessee, 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 anywhere in The Nashville area. Agents of Jim Pewitt, Steve Manley, and the rest of the team 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