The number of closed Condo and Townhomes in Franklin TN for April 2014 fell off slightly compared to last month and to one year ago, April 2013. Yet sales remain brisk as the Days on Market (DOM) has decreased considerably. Here are a few of the statistics for April 2014.
- Condos and Townhomes currently on the market as of 5/7/14: 63
- Of those units currently on the market, the number under contract: 14
- Properties closed in April 2014: 16
- Properties closed in April 2013: 27
- Average Sales Price: $222,024
- Average List Price: $226,612
- Ratio of Sales Price to List Price: 98%
- Average Days on Market: 33
- Sales currently pending: 47
- Condo and Townhome absorption rate 3.9 (number of units on the market divided by the number of closings for that month) A normal or steady market would be 5-7 months; anything under 5 months would be considered a seller's market; anything over 7 months would be considered a buyer's market.
Franklin TN Condo and Townhome sales for April 2014 reflect a seller's market. The Days on Market (DOM) has dropped from an average of 56 in March 2014 to an average of 33 days in April 2014. That drop shows significant interest on the part of buyers. This is a great time for those interested in selling their condo or townhome to contact Tom White of TW Realty Group to assist in that process. We are the local experts in the Franklin TN Condo and Townhome market.
In this market, buyers need to act very quickly to secure the home they desire. If you see the condo or townhome of your dreams, you need the assistance of an experienced buyer's agent to make that dream a reality! Speed is of the essence in this market so let TW Realty Group provide you with the necessary assistance to make it happen.
If you interested in buying or selling your Franklin Tn Condo or Townhome, contact Tom White of TW Realty Group at (615) 870-8169.
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