Franklin TN Condos/Townhomes Priced $300,000 and Up

By
Real Estate Agent with Franklin Homes Realty LLC (615) 495-0752 or www.FranklinHomesRealty.com TN License #326261

Franklin TN Condo/Townhomes Priced $300,000 and Up

This segment of the market continues to be quite active in Franklin TN. For all price groupings, 215 units have closed so far this year. Let's take a quick look at what's happened in the over $300,000 price point since the beginning of 2014. 

Franklin TN Condo/Townhomes priced $300,000 and Up

  • Condos/Townhome Units over $300,000 closed: 40
  • Average List Price: $355,617
  • Average Sales Price: $352,445
  • Average Sales Price to List Price Ratio: 99.1%
  • Average Size of Closed Units: 2,080 square ft.
  • Average Sales Price per Square Foot: $169.44
  • Lowest Sales Price per Square Foot in this market: $127.73 (Avalon)
  • Highest Sales Price per Square Foot in this market: $256.77 (Grant Park)
  • Average Days On Market: 53
  • Units AVAILABLE AS OF 11/21/14: 21

The three developments with the most sales so far in 2014 in the price point over $300,000 are Morningside with 8 sales, and Jamison Station with 7 sales, and Avalon with 5 sales. The other 20 closed sales are almost equally split between 10 other developments.

The sales price to list price ratio (99.1%) is the highest for any market segment based on price. 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.

Virtually all of the condos and townhomes in this price point are relatively newer units. With the exception of one townhome built in 1998, all of the units were built since 2002, with the average build year of 2008.

In the $300,000 + Condo/Townhome market, buyers need to act very quickly to secure the home they desire. 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.

Posted by

TW Realty Group
 
Tom White, REALTOR®
Franklin Homes Realty LLC
(615) 870-8169
 

 

 
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tom White of Franklin Homes Realty LLC. Any party who uses this material without the written permission of Tom White is subject to copyright infringement and possible lawsuit.

Comments (4)

Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Thanks for a very informative post - It looks like the market is really active in your area! Have a great weekend and go sell some houses! 

Nov 21, 2014 01:08 AM
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

Hi Tom, that's a good market report on condos in your area, it sounds like the condo market is good.

Nov 21, 2014 01:26 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Tom. Outstanding report, the turnover rate in this price range is really very good and the listing to sales price number is really good. Nice report as usual.

Make it a great weekend!

Nov 21, 2014 06:36 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good information for home buyers. Anyone looking to buy a condo in Franklin TN should call you.

Nov 24, 2014 07:58 PM