Franklin TN Home Sales for July 2010

By
Real Estate Broker/Owner with Franklin Homes Realty LLC

Franklin TN Home Sales for July 2010

We saw a 25% decrease in the number of homes sold in Franklin TN for June versus July 2010.  However, the good news is that we saw a 7% increase in the average sold price from $404,950 in June to $433,985 in July.  Unfortunately, we also saw a 21% increase in average days on the market from 81 days in June to 102 days in July.  

Based on the numbers, it is also easy to see why the Franklin TN expireds didn't sell.  The average list price for the expireds is $126,000 over the average list price of what sold in July.  There is usually one of two reasons that the average list price would be so high: (1) there were an excessive number of expireds at the higher price range or (2) the homes were over-priced.

Only 10% of the number of expireds were priced over $1M each.  Of the 59 expireds, 47% were on the market over 100 days.  Of that 47% only 14% were priced over $1M.  Which suggests that the 86% of the expireds over 100 days were probably over-priced and that's why they didn't sell. 

Remember, pricing a Franklin TN home correctly in the beginning will result in the quickest sale for the most amount of money.

 

Total Pending Home Sales:

131
Average List Price: $441,867
Average Days on Market: 58

 

Franklin TN Homes

 

Total Expired Home Sales: 59
Average List Price: $578,827
Average Days on Market: 127

 

 

Total Sold in July 2010: 122
Average List Price: $452,814
Average Sold Price: $430,163
Average Days on Market: 102

 

For a complete list of homes for sale in Franklin TN, please call Tammie White at (615) 495-0752.

Posted by
Tammie White, Managing Broker/Owner
CLHMS, CRS, GRI, SFR
Franklin Homes Realty LLC
Franklin, TN
(615) 495-0752 
GET REAL. GET LOCAL.
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Franklin Homes Realty LLC. Any party who uses this material without the written permission of Tammie White is subject to copyright infringement and possible lawsuit.
close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Tennessee Williamson County Franklin Franklin
Tags:
franklin tn real estate
franklin tn market reports

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
1,704,260

Tammie White, Broker

Franklin TN Homes for Sale
GET REAL. GET LOCAL.
*
*
*
*
Spam prevention

Additional Information