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.
- 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.