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

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 contiues to grow at an impressive rate.

 

Currently as of January 4th, 2012 there are 686 homes listed as for sale in Franklin:

Courtesy of Realtracs:

Active  686 Properties Found        Franklin TN Real Estate
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 780 0 0 0 $49,900 $0 0
AVG 3,549 3.71 2.84 0.81 $651,096 $0 112
MEDIAN 3,290 4 3 1 $439,900 $0 91
MAX 17,268 8 9 5 $12,500,000 $0 1,027

We can now break these numbers down to three averages: The chart shows that the 686 homes in Franklin currently listed single family homes are listed for an average price of $651,096 with an average list price per square foot of $183.46 The average day's on market are currently at 112. 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 1,414 successful sales so this gives us a value of 118 homes sold a month as an average and reveals that we have 5.81 months of inventory in Franklin.

As of January 4th, 2011 we have 106 homes that are listed as a pending sale.

Courtesy of Realtracs:

Pending  106 Properties Found     Homes For Sale Franklin TN
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 975 0 0 0 $136,000 $0 0
AVG 3,280 3.67 2.79 0.71 $470,718 $0 76
MEDIAN 3,126 4 3 1 $396,500 $0 82
MAX 10,183 6 5 2 $1,549,900 $0 426

We can now break these numbers down to three averages: The chart shows that Franklin homes currently listed as pending single family home sales are listed for an average price of $470,718 with an average list price per square foot of $143.51. The average day's on market are at 76. This shows us that the average list price of homes that are pending sale are listied at just under 28% lower than that of the homes for sale that have no offers at this point.

There were 1,414 properties that sold and closed in Franklin during the period of January 1st 2011 through December 31st 2011. 

Courtesy of Realtracs:

Closed  1,414 Properties Found    Real Estate Franklin TN
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 288 0 0 0 $30,000 $28,000 0
AVG 3,102 3.68 2.67 0.77 $420,538 $401,934 93
MEDIAN 2,942 4 2 1 $359,900 $349,000 75
MAX 15,506 8 12 4 $3,895,000 $3,227,700 835

We can now break these numbers down to four averages and a list price to sales price ratio: The chart shows that Franklin TN sold properties from January 1st 2011 through December 31st 2011 were listed for an average price of $420,538, with an average list price per square foot of $135.57. The average day's on market for these sold properties were 93. The average price that properties actually sold for were $401,934. With this information we can see that the properties sold for 95.58% 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 overall Franklin Real Estate Market is trending: The first six months compared with the last six months of 2011.

Franklin Closed Sales January 1st 2011 through June 30th 2011

Courtesy Of Realtracs:

Closed  693 Properties Found         January 1st Through June 30th 2011
  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 3,100 3.7 2.67 0.78 $423,691 $403,045 93
MEDIAN 2,922 4 2 1 $349,900 $339,300 75
MAX 12,060 7 9 4 $3,895,000 $3,227,700 691

Courtesy of Realtracs:

Closed  721 Properties Found     July 1st Through December 31st 2011
  Square Feet Bedrooms Full Baths Half Baths List Price Sales Price Days on Market
MIN 288 0 0 0 $30,000 $28,000 0
AVG 3,104 3.66 2.68 0.76 $417,507 $400,866 93
MEDIAN 2,967 4 3 1 $369,500 $357,770 75
MAX 15,506 8 12 4 $3,595,000 $2,600,000 835

With this information we can see that during the first six months of 2011, Franklin homes for sale had an average sales price of $403,045 with an average sale price per square foot of $130.01 with an average days on market of 93. The second six month period, July 1st 2100 through December 31st 2011 had an average sales price of $400,866 with an average sale price per sqare foot of $129.15 with an average days on market of 93. The pace of sales was was up slightly during the second six months of the year, and the average sales price was very slightly down. The days on market were exactly the same.

This information is significant because it shows us that Franklin is experiencing a very stable market trend in the price that buyers are willing to pay with an average sales price per square foot virtually unchanged compared with the first six months of 2011! This is very good news for the home seller and home buyer in Franklin TN.

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.

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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) 307-0858
 
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