Franklin TN Home Sales and Home Prices for February 2014
Frankin TN is the largest city in Williamson County just 14 miles south of Nashville. It was named the Best Small Town in Tennessee. The population is approximately 63,000 people. Although, that number seems to be growing daily as a result of the new construction.
Franklin has a great mix of old and new. Historic Franklin dates back to 1799. There you will find the streets lined with boutique shops and eateries. This area is frequently visited by residents because of the many events offered and a popular draw for visitors hoping to get a glimpse of our Southern hospitality.
The Cool Springs retail district gets its name from Cool Springs Galleria but, make no mistake, this is Franklin. You will find a variety of well-known restaurants and stores here. Nissan North America has its headquarters in this area as do other large companies including Mars Petcare, Healthways and Verizon. With more companies moving here every day.
Franklin TN has a variety of housing options from one-level condominiums to large equestrian estates. Franklin is served by the highly ranked Williamson County Schools. Several of our high schools have ranked as the nation's best.
Median Franklin TN Home Prices for February 2014
- 2 Bedroom Condo/Townhouse: $177,750
- 3 Bedroom Condo/Townhouse: $259,700
- 2 Bedroom Single-family: $137,250
- 3 Bedroom Single-family: $277,000
- 4 Bedroom Single-family: $475,000
- 5 Bedroom Single-family: $514,450
Franklin TN Home Sales for February 2014
- Properties currently Active on the market: 670
- Single-family properties closed in February 2014: 92
- Median sales price: $404,000
- Average sales price: $442,860
- Average list price: $444,432
- Average sales price to list price ratio: 99.6%
- Average days on the market: 73
- Sales currently pending: 276
- Franklin TN absorption rate: 7.3 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).
It isn't surprising that we saw a drop in home sales during February. We typically see that due to the holidays. However, the cold temps this winter have contributed to lower sales as well. The good news is that Franklin TN remains in a steady or normal market even with the reduced closings. The average days on the market are low and the average sales price to list price is excellent. Our inventory while increasing, still remains low. Many neighborhoods don't currently have any inventory.
My advice to would be sellers:
THIS IS A GREAT TIME TO SELL YOUR FRANKLIN TN HOME!
If you are looking to sell your Franklin TN home, 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 Franklin TN 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 with Franklin TN homes for sale, contact
Tammie White at (615) 495-0752.
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