Franklin TN Home Sales for January 2012 provided by Tammie White Franklin TN REALTOR®:
Properties currently active on the market: 722- Single-family properties closed in January 2012: 68
- Average sales price: $453,453
- Average list price: $477,338
- Sales price to list price ratio: 95%
- Average days on the market: 88
- Sales currently pending: 134
- Franklin TN absorption rate: 10.6 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. January sales were low in comparison to the 119 closed homes in December and is currently in a buyers' market. This is not unusual as the January closed sales represent the homes that went under contract during November and December. However, I am seeing lots of buyer activity in the market. So I expect we'll see increased sales numbers in the next couple of months.
With interest rates the lowest they have been in 50 years and the average days on the market low, 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 rush. 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!!
Before you decide to buy or sell a Franklin TN home, make sure you pick up the phone and call me at (615) 495-0752.
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