The number of closed Condo and Townhomes in Franklin TN for May 2014 rose slightly compared to last month, but evened off when compared to May, 2013. Here are a few of the statistics for May 2014.
Condos and Townhomes currently on the market as of 5/4/14: 66- Of those units currently on the market, the number under contract: 21
- Properties closed in May 2014: 22
- Properties closed in May 2013: 22
- Properties closed in April 2014: 16
- Average Sales Price: $218,377
- Average List Price: $223,184
- Ratio of Sales Price to List Price: 98%
- Average Days on Market: 48
- Sales currently pending: 46
- Average Sold Price/Sq. Ft.—$143.95
- Lowest Sold Price/Sq Ft.—$100.90 (Orleans Estates)
- Highest Sold Price/Sq. Ft.—$185.95 (Morningside)
Condo and Townhome absorption rate 3.3 (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 May 2014 reflect a seller's market. 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.
This month I’ve added the lowest and highest square foot prices for units sold in May 2014, and the names of those developments. Click on those for current listings.
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.
Comments (8)Subscribe to CommentsComment