McKay's Mill Homes for Sale in Franklin TN | Market Report October 2013

McKay's Mill Homes for Sale in Franklin TN | Market Report October 2013

McKay's Mill is located just east of Interstate 65 off Liberty Pike in Franklin TN. There are approximately 1,500 homes. However, this Franklin TN neighborhood is still building homes. Originally, there were several builders in this neighborhood but the majority of the homes were built and continue to be built by The Jones Company. The first homes were built in 1999. McKay's Mill homes range in size from 1,350 square foot one-level condos to 6,500 square foot three-level executive-style homes.

McKay's Mill amenities include a clubhouse with workout room, Olympic-size swimming pool, play/picnic areas, gazebos and a walking trail system. There is also a Publix grocery store, Walgreen's and daycare facility located within the neighborhood.

McKay's Mill Homes for Sale in Franklin TN

McKay's Mill Franklin TN Market Report October 2013

• Properties currently Active on the market: 16
  
• Single-family properties closed in October 2013: 13
  
• Average sales price: $409,711
• Average list price: $416,533
• Average sales price to list price ratio: 98.4%
• Average days on the market: 66
  
• Sales currently pending: 12
  
• McKay's Mill absorption rate: 1.2 months of inventory (a normal or steady market would be 5 - 7 months; anything under 5 months of inventory is considered a sellers' market; anything above 7 months of inventory is considered a buyers' market).

 McKay's Mill is currently experiencing an extreme sellers' market. The average sales price to list price ratio is high and the average days on the market is low; a winning combination for sellers. The close proximity of these homes to the Cool Springs retail district and Interstate 65 make them very desirable. Although, there are 16 homes currently on the market, 6 of them are already under contract. That means there is less than a month of inventory currently available. Homes priced right in good condition are going under contract quickly.

The best way to determine a list price is to have an experienced real estate agent prepare a Competitive Market Analysis. This will provide you with the current active listings and most recent closed sales so you can price your home competitively.

If you are a McKay's Mill home buyer, be sure to have the assistance of a Buyer's Agent, even when purchasing new construction. A Buyer's Agent will provide you with a Competitive Market Analysis and negotiate the best price for you. This service is provided at no cost to you. Buyer's Agents are paid by the listing brokerage company or new construction builder.

If you need assistance buying or selling a McKay's Mill homes for sale in Franklin TN today, contact

Tammie White at (615) 495-0752.