What's My Historic Franklin Home Worth? Market Report for May 2014
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Properties currently Active on the market: 20 - Single-family properties closed in May: 4
- Average sales price: $554,650
- Average list price: $579,325
- Average sales price to list price ratio: 95.7%
- Average days on the market: 104
- Pending sales: 9
- Historic Franklin absorption rate: 5 months of inventory (a normal or steady market would be 5-7 months, a buyer's market would be in excess of 7 months, and a seller's market would be less than 5 months)
Historic Franklin is in a normal or steady market. This is actually good news considering historic homes usually are on the market for a very long time due to the reduced number of buyers seeking this type of home. This also accounts for the low sales price to list price ratio.
The least expensive historic home was built in 1932 was 1,170 square feet and sold for $268,000. The most expensive historic home was built in 1901 was 3,916 square feet and sold for $827,500. That home was on the market for 297 days which negatively impacted the average days on the market. It only sold for 93% of list price. Surprisingly, the other homes sold in less than 60 days.
By now, you're wondering what your historic Franklin home is worth? Just click the photo below and you will receive your home valuation instantly. No more forms to fill out and then wait for a response. You receive the report in seconds. Be prepared, due to the unique nature of these homes pricing is hard to gauge.
Selling historic homes can be a real challenge and requires a special type of marketing. With 92% of buyers beginning their home search on the internet, sellers need their homes to have the best coverage possible there. This goes way beyond just syndicating listings to other websites.
The homes that have maximum exposure on the internet are the ones who get the most traffic and the best opportunity to sell. Professional photography is extremely important to markeing your historic Franklin home. You want to make sure the many architectural features of your home are highlighted. Additionally, you want to the marketing of your home to go beyond the traditional sense.
TW Realty Group is using the newest technology to get the word out about Franklin and it's historic homes. This includes the use of social media and blogging. Something not many listing agents in the Franklin housing market are doing.
Don't believe me, Let Me Google That for You. When you click the link you will be taken to a Google search. The results will indicate that our website is ranked #1 for Franklin TN historic homes for sale. That's above the national websites. It's easy to see why we get thousands of clicks each month. This provides your listing with exposure to home buyers all over the country who may be looking for historic Franklin homes.
When you are ready to sell your historic Franklin home, contact Tammie White at (615) 495-0752.
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