The Franklin TN Real Estate Market

 

The Franklin TN Real Estate market has been very strong in 2013 and the sales statistics are in for the third quarter of 2013. I want to review the third quarter results and compare these results with the second quarter of 2013 and see how the market is trending.

I also think that there is value in comparing this years third quarter results with the third quarter of last year, July 1st 2012 through September 30th 2012 so that we can also get an understanding of how the market is moving in Franklin for the past year.

 

Third Quarter 2013
 

During the Third quarter of 2013 there were a total of 575 site built single family homes that sold in Franklin:

Franklin Single Family Home Sales 7/1/2013 through 9/30/2013

Courtesy of Realtracs:

 

Closed  575 Properties Found          Franklin TN Real Estate Sales
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 864 2 1 0 $69,900 $60,000 0
AVG 3,166 3.75 2.78 0.78 $485,200 $473,828 64
MEDIAN 3,031 4 3 1 $411,505 $405,000 54
MAX 17,268 7 9 3 $5,795,000 $5,000,000 540

 

 

We can now break these numbers down to three averages: The chart shows that Franklin homes that sold in the third quarter of 2013 were listed for an average price of $485,200 with an average list price per square foot of $153.25. The average day's on market were 64. This also shows us that the average list price of homes that sold received on average 97.66% of the list price during the third quarter of 2013.

 

Second Quarter 2013

 

During the second quarter of 2013 there were a total of 628 single family home sales.

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

Courtesy of Realtracs:

 

Closed  628 Properties Found             Franklin TN Home Sales
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 816 2 1 0 $46,000 $43,000 0
AVG 3,120 3.75 2.72 0.78 $451,965 $441,950 65
MEDIAN 2,940 4 3 1 $388,000 $384,000 53
MAX 14,040 8 9 4 $4,350,000 $3,600,000 782

 

 

We can now break these numbers down to three averages: The chart shows that Franklin homes that sold in the second quarter of 2013 were listed for an average price of $451,965 with an average list price per square foot of $144.86. The average day's on market were 65. This shows us that the average list price of homes that sold received on average 97.78% of the list price during the second quarter of 2013.

Third Quarter 2012

 

During the third quarter of 2012 there were a total of 536 single family site built homes that sold in Franklin:

Franklin Single Family Home Sales 7/1/2012 through 9/30/20112.

Courtesy of Realtracs:

 

Closed  536 Properties Found            Homes for Sale Franklin TN
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 818 0 0 0 $43,245 $35,166 0
AVG 3,067 3.71 2.65 0.75 $421,275 $407,765 79
MEDIAN 2,967 4 2 1 $359,927 $351,320 66
MAX 9,802 6 6 3 $4,770,000 $3,800,000 711

 

We can now break these numbers down to three averages: The chart shows that Franklin homes that sold in the third quarter of 2012 were listed for an average price of $421,275 with an average list price per square foot of $137.36. The average day's on market were 79. This shows us that the average list price of homes that sold received on average 95.09% of the list price during the third quarter of 2012.

 

Summary & Trends of These Franklin Real Estate Statistics

Third Quarter 2013                             Second Quarter 2013                         Third Quarter 2012

Homes Sold = 575                               Homes Sold = 628                              Homes Sold = 563

Avg. List Price = $485,200                   Avg. List Price = $451,965                 Avg. List Price = $421,275

Avg. Sale Price = $473,828                 Avg. Sale Price = $441,950                Avg. Sale Price = $407,765

Avg. SP/SQFT Ratio = $149.66           Avg. SP/SQFT Ratio = $141.65           Avg. SP/SQFT Ratio = $132.95

Avg. SP/LP Ratio = 97.66%                 Avg. SP/LP Ratio = 97.78%                Avg. SP/LP Ratio = 95.09%

Avg. Day's On Mkt = 64                      Avg. Day's On Mkt = 65                      Avg. Day's On Mkt = 79

 

The information shows that the Franklin TN market continues to trend in a positive direction. The average sale price is up a robust 16.2% in the past year, the average sale price to list price ratio is up for the year with sellers receiving approximately 97.66% vs. 95.09% of asking price in the previous year. 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.

 

Have you missed our recent posts?  Here are some links to our latest blogs.  Enjoy!

 

Our Latest Blogs:

 

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Other Sites Posted:  AGreaterTown  RealTown  ActiveRain  Tumblr  CrackerJackAgent  Trulia  ExitMid-Atlantic  ExitRealtySoCal  Hubrec  WithExit  ExitVirginia

 

Franklin TN Real Estate  - MySearchForHomes.com Team
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