What's My Historic Franklin Home Worth? Market Report for July 2014
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Properties currently Active on the market: 21 - Single-family properties closed in July: 4
- Average sales price: $457,209
- Average list price: $437,800
- Average sales price to list price ratio: 104.4%
- Average days on the market: 35
- Pending sales: 7
- Historic Franklin absorption rate: 5.3 months of inventory (a normal or steady market would be 5-7 months, a buyer's market would be in excess of 7 months, and a seller's market would be less than 5 months)
Historic Franklin is in a normal or steady market. Unfortunately, three of the four homes that closed in July weren't actually historic homes, they were new construction. Buyers love living close to historic, downtown Franklin. However, prices usually make these homes cost prohibitive. Builders have bought up just about every available parcel of land to build new homes that are close to downtown and have a historic feel, while not actually being historic.
The smallest historic home sold in July was built in 1940. It was 1,400 square feet and sold for $215,000. This home had been recently remodeled with modern updates including granite counter tops, maple cabinets, stainless steel appliances and hardwoods.
The largest home sold in July was a new build. It was 3,266 square feet built by Regent Homes for $717,788.
By now, you're wondering what your historic Franklin home is worth? Just click the photo below and you will receive your home valuation instantly. No more forms to fill out and then wait for a response. You receive the report in seconds. Be prepared, due to the unique nature of these homes pricing is hard to gauge.
Selling historic homes can be a real challenge and requires a special type of marketing. With 92% of buyers beginning their home search on the internet, sellers need their homes to have the best coverage possible there. This goes way beyond just syndicating listings to other websites.
The homes that have maximum exposure on the internet are the ones who get the most traffic and the best opportunity to sell. Professional photography is extremely important to markeing your historic Franklin home. You want to make sure the many architectural features of your home are highlighted. Additionally, you want the marketing of your home to go beyond the traditional sense.
TW Realty Group is using the newest technology to get the word out about Franklin and it's historic homes. This includes the use of social media and blogging. Something not many listing agents in the Franklin housing market are doing.
Don't believe me, Let Me Google That for You. When you click the link you will be taken to a Google search. The results will indicate that our website is ranked in several spots for the term, what's my historic Franklin TN home worth? That's above the national websites. It's easy to see why we get thousands of clicks each month. This provides your listing with exposure to home buyers all over the country who may be looking for historic Franklin homes.
When you are ready to sell your historic Franklin home, contact Tammie White at (615) 495-0752.
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