Franklin TN Condo and Townhome Sales July 2014
The number of closed Condo and Townhomes in Franklin TN for July 2014 dropped slightly when compared to last month, and was substantially lower when compared to July, 2013. Here are a few of the statistics for July 2014.
- Condos and Townhomes currently on the market as of 8/4/14: 59
- Of those units currently on the market, the number under contract: 16
- Sales currently pending: 45
- Properties closed in July 2014: 20
- Properties closed in July 2013: 30
- Properties closed in June 2014: 24
- Average Sales Price: $248,700
- Average List Price: $251,880
- Ratio of Sales Price to List Price: 98.7%
- Average Days on Market: 56
- Median Days on Market: 51.5
- Average Sold Price/Sq. Ft.—$144.85
- Lowest Sold Price/Sq Ft.—$101.73 (River Rest)
- Highest Sold Price/Sq. Ft.—$194.52 (Berry Farms)
The Condo and Townhome absorption rate for July 2014 in Franklin TN is 3.4 (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 July 2014 reflect a steady seller's market. The continuing low inventory is driving the market as we can see the Ratio of Sales Price to List Price remaining at a high level (98.7%). 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 local experts in the Franklin TN Condo and Townhome market.
You can see the lowest and highest square foot prices for units sold in July 2014, and the names of those developments. If you click on those developments you’ll find any current listings there.
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