Leiper's Fork Homes for Sale in Franklin TN | Market Report for October 2013
Leiper's Fork is a historic village located within rural Franklin TN. Many believe that it is a city unto itself but it is a part of Franklin within the 37064 zip code. Although, it is considered a neighborhood in the local mulitple listing service, it is not a Franklin TN neighborhood in the traditional sense.
You will find a variety of homes here from small one-levels to large estates with horse property. Much of Leiper's Fork is protected by a Land Trust making Leiper's Fork the most desirable land available within Williamson County. Many country music stars call Leiper's Fork home. With the availability of unique homes and large acreage it's easy to see why residents aspire to live here.
It's not unusual to find a wide variety of housing options available in Leiper's Fork. Currently there is everything from a small historic cottage built in 1900 to a large estate built in 2011. The smallest home currently on the market is 784 square feet. While the largest and most expensive home currently available in Leiper's Fork is a 15,370 square foot estate on 800 acres, priced at $19.9M.
Leiper's Fork Franklin TN Market Report for October 2013
- Properties currently Active on the market: 27
- Single-family properties closed in October 2013: 3
- Average sales price: $988,333
- Average list price: $1,092,333
- Average sales price to list price ratio: 90.5%
- Average days on the market: 75
- Sales currently pending: 4
- Leiper's Fork absorption rate: 9 months of inventory (a normal or steady market would be 5 - 7 months; anything under 5 months of inventory is considered a sellers' market; anything above 7 months of inventory is considered a buyers' market).
Leiper's Fork is currently experiencing a buyers' market. This isn't surprising given that the homes are usually unique which often requires they be on the market a little longer than a home located in a traditional Franklin TN neighborhood.
While the average sales price to list price ratio is low, the average days on the market is also low. It's likely that some of the homes were priced too high when they came on the market. It wasn't until they dropped their price that they finally went under contract which accounts for the low sales price to list price ratio. It's always best to price your Leiper's Fork home for sale right from the very beginning.
The best way to determine a list price is to have an experienced real estate agent prepare a Competitive Market Analysis. This will provide you with the current active listings and most recent closed sales so you can price your home competitively.
If you are a Leiper's Fork home buyer, be sure to have the assistance of a Buyer's Agent. He/she will also be able to provide you with a Competitive Market Analysis to determine the best purchase price. This service is provided at no cost to you; Buyer's Agents are paid by the listing brokerage company.
If you need assistance buying or selling a Leiper's Fork homes for sale in Franklin TN today, contact
Tammie White at (615) 495-0752.
Note: While the photo above is of an actual home located in Leiper's Fork, it may not necessarily reflect the average sales price of a home there.