The number of closed Condo and Townhomes in Franklin TN for June 2014 rose very slightly when compared to last month, but showed up somewhat less when compared to June, 2013. Here are a few of the statistics for June 2014.
- Condos and Townhomes currently on the market as of 7/11/14: 65
- Of those units currently on the market, the number under contract: 18
- Sales currently pending: 46
- Properties closed in June 2014: 24
- Properties closed in June 2013: 37
- Properties closed in May 2014: 22
- Average Sales Price: $258,112
- Average List Price: $262,031
- Ratio of Sales Price to List Price: 98.5%
- Average Days on Market: 47
- Average Sold Price/Sq. Ft.—$156.43
- Lowest Sold Price/Sq. Ft.--$119.44 (Orleans Estates)
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Highest Sold Price/ Sq. Ft.--$222.41 (Jameson Station Condos)
You can see the lowest and highest square foot prices for units sold in June 2014, and the names of those developments. If you click on those developments you’ll see any current listings there.
Condo and Townhome absorption rate is 2.7 (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 June 2014 reflect a seller's market. Do you want to know what your Franklin TN home is worth? Check out our Seller's page. 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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