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Franklin TN Condo and Townhome Market Trends --- October 2015
Franklin TN Condo and Townhome Market Trends --October 2015
What's happening in the Franklin TN Condo and Townhome market? The best place to start is to look at a current market report. Let's see what happened in Franklin TN in September 2015. 
Active condo/townhomes listings: 67 Of those units currently on the market, the number under contract: 27 Properties closed in September : 28 Average sales price: $271,809 Average list price: $ 274,249 Average sales price to list price ratio: 99.1% Average days on the market: 57 Average per SF sold price: $167.78 Lowest per SF sold price: $104.66 (Andover) Highest per SF sold price: $263.37 (Grant Park) To determine whether it's a buyer's or seller's market, REALTORS® use something called absorption rate. If you take the current inventory of 67 homes and divide that by last month's closed sales (67/28) it totals 2.39 months. That means if the current inventory stayed the same, it would take around 2 1/2 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 September 2015 reflects an exceptional seller's ... more

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