Franklin TN Home Sales for December 2011 provided by Tammie White Franklin TN REALTOR®:
- Properties currently active on the market: 686
- Single-family properties closed in December 2011: 119
- Average sales price: $440,833
- Average list price: $455,265
- Sales price to list price ratio: 96.8%
- Average days on the market: 110
- Sales currently pending: 106
- Franklin TN absorption rate: 5.8 months of inventory (5-6 months of inventory is considered a normal market--four months or less is considered a sellers' market, more than 7 months is considered a buyers' market).
Franklin TN home sales have been very strong for the last several months just hovering above a normal market. December closed sales have finally moved us into that normal market. Some Franklin neighborhoods are actually in a sellers' market. This is good news for Franklin TN homeowners.
Just look what the following Franklin TN neighborhoods are doing:
Fieldstone Farms Sellers' Market Absorption Rate: 3.3 months
Franklin Green Normal Market Absorption Rate: 6 months
Ladd Park Sellers' Market Absorption Rate: 2.8 months
Laurelbrooke Buyers' Market Absorption Rate: 6.5 months
McKay's Mill Extreme Sellers' Market Absorption Rate: 1.4 months
Sullivan Farms Normal Market Absorption Rate: 6 months
Temple Hills Sellers' Market Absorption Rate: 4.5 months
Villages of Clovercroft Extreme Sellers' Market Absorption Rate: .7 months
Westhaven Buyers' Market Absorption Rate: 7.2 months
Willowsprings Extreme Sellers' Market Absorption Rate: 2 months
With interest rates the lowest they have been in 50 years, now may be the time to put your Franklin TN home on the market. Inventory is low and buyers are looking to take advantage of these interest rates. Why wait until the Spring push. You could have your home sold by then.
If you would like to know how your Franklin TN neighborhood is doing, contact me today.
If you are looking to buy a home in Franklin TN, remember to have the assistance of a Buyer's Agent. This agent will represent your interests during the transaction to negotiate on your behalf. A good Buyer's Agent should always provide you with the most recent Competitive Market Analysis and Absorption Rate to help you determine the fair market value of the home you are buying. I would be happy to help you in this area, just contact me today!!