McKay's Mill Franklin TN Home Sales for August 2012 provided by Tammie White:
- Properties currently active on the market: 31
- Single-family properties closed in August 2012: 9
- Average sales price: $423,841
- Average list price: $425,445
- Sales price to list price ratio: 99.6%
- Average days on the market: 77 li>Sales currently pending: 10
- McKay's Mill absorption rate: 3.4 months of inventory (a normal or steady market would be 5-7 months; anything under 5 months of inventory is considered a seller's market, above 7 months is considered a buyer's market).
McKay's Mill is in a sellers' market. The sales price to list price ratio and low days on the market are very good for this Franklin TN neighborhood. The sales price to list price ratio remains high because 1/3 of the closed home sales were new construction that sold at or above list price. The best buys in this neighborhood are found in the existing homes.
Of the 31 homes currently listed, 6 are under contract that have not been moved into pending yet. Due to the size of this community, nearly 1,500 homes, the inventory is very low--making this a good time to list your McKay's Mill home.