What's My Franklin TN/Condo Worth? Market Report August 2014
- Active condo/townhomes listings: 62
- Active listings under contract: 17
- Percentage of active under contract: 27%
- Properties closed in August: 22
- Average sales price: $236,695
- Average list price: $241,471
- Average sales price to list price ratio: 98.0%
- Average days on the market: 50
- Average per SF price: $154.20
What does all this mean for sellers? Is it a buyer's market or a seller's market? This will greatly affect the extent to which you will be in competition with other sellers in your neighborhood and across the community as a whole.
To determine that, we use absorption rate. If you take the current inventory of 62 homes and divide that by last month's closed sales (62/22) you get 2.8 months. That means if the current inventory stayed the same, it would take about 2 3/4 months to sell all the existing homes. A normal or steady market would be 5-7 months; anything under 5 months would be considered a seller's market; anything over 7 months would be considered a buyer's market.
The Franklin TN condo and townhome sales for August reflect a seller's market. The low inventory compared to the steady demand continues to drive the market upward. Over the last year, prices on condos and townhomes have risen an average of 10%.
You must be asking yourself what's my Franklin TN condo/townhome home 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.
With over 92% of buyers beginning their home search on the internet, sellers need their homes to have the best coverage possible on-line. We offer much more than just syndicating listings to other websites. Through the use of social media and blogging, we have created a way to get your condo or townhome the exposure you need to get a quick sale for top dollar.
The internet has become the first showing. Professional photographs are a must to showcase the many features of your homes. Additionally, you want your home to stand out from the others in your neighborhood with a single-property website. Just click the link to be taken to one example of how TW Realty Group markets your home.
Also, check out the Condo/Townhomes for sale on our site. It's easy to see why our website gets thousands of clicks each month. This provides your listing with exposure to home buyers all over the country.
When you are ready to sell your Franklin TN condo or townhome, contact Tom White of TW Realty Group at (615) 870-8169.
Comments(19)