Franklin TN Condo and Townhome Market Trends -- April 2015

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

Franklin TN Condo and Townhome Market Trends -- April 2015 

What's happening in the Franklin TN Condo and Townhome market? Should I buy now or wait? Should I get my condo or townhome on the market right away or delay? All good questions about the Franklin TN Condo and Townhome market. The best place to start is to look at a current market report. Let's see what happened in Franklin TN in March 2015.

Franklin TN Condo and Townhome Market Trends - April 2015

  • Active condo/townhomes listings: 63
  • Of those units currently on the market, the number under contract: 20
  • Properties closed in March: 14
  • Average sales price: $207,560
  • Average list price: $211,146
  • Average sales price to list price ratio: 98.3%
  • Average days on the market: 104
  • Median Days on the market: 55
  • Average per SF price: $143.64
  • Lowest per SF price: $79.23 (Executive House Condos)
  • Highest per SF price: $240.82 (Grant Park)

To determine whether it's a buyer's or seller's market, REALTORS® use something called absorption rate. If you take the current inventory of 63 homes and divide that by last month's closed sales (63/14) you get 4.5 months. That means if the current inventory stayed the same, it would take 4.5 months to sell all the existing homes.  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.

The Franklin TN condo and townhome sales for March 2015 reflect a seller's market. The low inventory coupled with a steady demand continues to drive the market upward. 

Now, let's answer those questions about buying and selling.

If you are a buyer, housing prices are continuing to rise in Franklin TN. Even with some expected increase in inventory as we move into late Spring, now is a great time to make that purchase. Springtime usually brings out more buyers--resulting in more competition for homes. This generally translates into higher prices. Whether you are buying new construction or an existing home, 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.

If you are thinking of selling your home,  NOW is the time to get your home on the market. Historically, late Spring into the Summer is when the most Condos and Townhomes are sold. 

When you are ready to buy a Franklin TN condo or townhome, or sell your existing Franklin home contact Tom White of Franklin Homes Realty LLC 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.
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Ambassador
2,806,353
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Tom - Very comprehensive market report for Franklin condos and townhomes. Nice to see you back at it :)

Apr 14, 2015 06:06 AM #1
Rainmaker
3,239,260
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Tom - These are very valuable stats on Franklin, Tennessee condo and townhome market trends.

Apr 14, 2015 07:16 AM #2
Rainmaker
1,604,179
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Tom, hope you're feeling better. It's good to have a seller's market, Franklin TN condo and townhome buyers should be acting fast not miss out on great properties by contacting you and Tammie White.

Apr 14, 2015 09:52 AM #3
Rainer
355,982
Tom White
Franklin Homes Realty LLC (615) 495-0752 or www.FranklinHomesRealty.com - Franklin, TN
Franklin Homes Realty LLC, Franklin TN

Thanks, Dick Greenberg , I thought it was about time!

John, thanks for stopping by.

Hi Beth Atalay ! Like just about everywhere, this market is pretty hot. I did have one condo in the report that was on the market for an unbelievable 656 days, which really skewed at least the DOM!

Apr 14, 2015 09:29 PM #4
Rainmaker
1,545,148
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Tom, it's great to see that your market is so hot. Anyone considering buying or selling in Franklin TN needs to contact you and put your expertise to work. I hope you're feeling better everyday!

Apr 15, 2015 12:50 AM #5
Ambassador
1,771,155
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Hi Tom, well done Franklin TN Condo and Townhome Market Trends report. Things are doing quite well.

Apr 15, 2015 01:40 AM #6
Ambassador
3,986,387
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Hi Tom. Nice overview of the market. Good and well priced listings are not staying on the market long. I am hoping for a little less inventory and your are hoping for more. Want to trade?

Apr 16, 2015 12:57 PM #7
Ambassador
2,166,874
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Tom is back in action. Well, at least on the market report front. Good to see you, and hope you're feeling stronger by the day. D 

Apr 17, 2015 07:06 AM #8
Ambassador
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Tom- glad to see you're back in action.  This is a thorough market report on Condos and Townhomes in Franklin TN!

Apr 18, 2015 04:28 AM #9
Ambassador
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Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

This post reflects what a fine area expert you are Tom White 

Apr 18, 2015 08:19 AM #10
Rainmaker
898,033
Jane Chaulklin-Schott
TEAMCONNECT REALTY - (407) 394-9766 - Orlando, FL
TeamConnect Luxury Homes - Orlando, Florida, 32836

Tom White , always neat to hear what the market is doing in different parts of our US.  Looks like Franklin,Tn. Condos and Townhomes market is very active and doing extremely well.

Apr 19, 2015 06:06 AM #11
Rainmaker
2,385,427
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

What is most important, how are you doing? Is the rehab going OK?

Great job with your report, as usual!

Make it a great week!

 

 

Apr 20, 2015 09:29 AM #12
Rainmaker
4,088,239
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Tom,

Good to see you back tackling those market reports in Franklin. Hope your healing is continuing and your rehab is going well..don't forget to keep us updated. Great report as always!

Apr 20, 2015 09:30 PM #13
Ambassador
2,166,874
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hi Tom hope you're back on  your feet enough to show some of these homes. And, I'm with Dorie - let us know how you're feeling. D 

Apr 22, 2015 01:09 AM #14
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Rainer
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Tom White

Franklin Homes Realty LLC, Franklin TN
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