Franklin Indiana Real Estate Report – May 2007

Active:

In May 2007, there were 67 homes added to the Franklin real estate market and the average listing price was $143,183.  In May 2006, 84 Franklin homes were added to the market with an average listing price of $145.118.  The average home that was newly added to the market in May 2007 was $1,935 or 1.3% less than in 2006.

Pending:

May 2007 saw 41 Franklin homes go pending with an average asking price of $123,874.  The same month in 2006 had 52 homes go pending on the Franklin real estate market with an average asking price of $122,679.  The average home that went pending in May 2007 was up $1,195 or .9% over the same time last year.

Sold: *

In May 2007, 41 Franklin homes sold with an average selling price of $109,028.  The average home in May 2007 took 79 days to sell and received 96% of its asking price.  May 2006 had 47 homes close on the Franklin real estate market with an average selling price of $111,890.  The average home in 2006 took 50 days to sell and received 95% of its asking price.  The average Franklin Indiana home that closed in May 2007 was down $2,862 over last years numbers.

It should be noted that with so few closings one home has the ability to exaggerate the averages.  One should also use the year to date numbers when evaluating the health of the Franklin real estate market.  As of 6/12/2007 there are 325 homes for sale on the Franklin Indiana real estate market.  Over the past 12 months, 414 homes have sold in Franklin; this means that is no new properties are added there is a 9.42 months supply of homes on the Franklin real estate market.

Franklin Indiana real estate numbers year to date:

* Sold properties are calculated on homes that closed in Franklin below $500,000.