Franklin TN Home Sales for November 2012 provided by Tammie White Franklin TN REALTOR®:
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Properties currently active on the market: 608 - Single-family properties closed in November 2012: 142
- Average sales price: $401,139
- Average list price: $410,738
- Sales price to list price ratio: 97.7%
- Average days on the market: 68
- Sales currently pending: 195
- Franklin TN absorption rate: 4.3 months of inventory (5-6 months of inventory is considered a normal market--four months or less is considered a sellers' market, more than 7 months is considered a buyers' market).
Franklin TN is currently in a sellers' market. This is fabulous news as we enter into the slowest time of the year. However, due to the low interest rates buyers are still out in record numbers. For example, you are seeing homes go under contract the first weekend on the market. Some receiving multiple offers.
The sales price to list price ratio is high and the average days on the market is low. Inventory is extremely low and home buyers are out looking to take advantage of these incredibly low interest rates. Don't wait until the Spring, take advantage of this opportunity right now.
Many Franklin TN neighborhoods are even experiencing an extreme sellers' market with less than two months of inventory. If you would like more information about the current market in your neighborhood, contact me today to schedule a competitive market analysis.
If you are looking to buy a home in Franklin TN, remember to use a Buyer's Agent. This agent will represent your interests during the transaction.
A good Buyer's Agent should always provide you with the most recent Competitive Market Analysis and Absorption Rate to help you determine the fair market value of the home you are buying. I would be happy to help you in this area, just contact me today!! Better yet, call me at (615) 495-0752.
Riding the Trillion-Dollar Real Estate Recovery Roller Coaster
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