Looking For A Franklin TN Condo/Townhome Under $200,000?
To answer your question, Condos and Townhomes under $200,000 are available in Franklin TN. However, the inventory is limited and they move very quickly.
Let's take a quick look at what's happened in this market over the past 6 months, 5/1/14 to 11/1/14.
- Condos/Townhome Units under $200,000 closed: 40
- Average List Price: $161,404
- Average Sales Price: $158,167
- Median Sales Price: $178,800
- Average Sales Price to List Price Ratio: 98%
- Average Sales Price per Square Foot: $125.73
- Lowest Sales Price per Square Foot: $93.42 (Orleans Estates)
- Average Days On Market: 39
- Units AVAILABLE AS OF 11/1/14: 6
Far and away the most sales in this time period for units under $200,000 occurred in the Hardison Hills Townhome development (14). By comparison, the next highest number came from Orleans Estates where 5 units were sold.
Over the last year, prices on condos and townhomes have risen an average of 10%. The sales price to list price ratio remains at a high level (98%). This means that if a unit is "priced right", you may have a somewhat limited ability to negotiate. This varies greatly from unit to unit and and from development to development. It is extremely important to enlist the aid of an experienced buyer's agent to help you pay no more than you should for the condo or townhome you desire.
In the under $200,000 Condo/Townhome market, buyers need to act very quickly to secure the home they desire--speed is of the essence. The inventory is very limited, but TW Realty Group is here to help. When you are ready to buy a Franklin TN condo or townhome, contact Tom White of TW Realty Group at (615) 870-8169.
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