Franklin TN Condo and Townhome Market Trends--July 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 --July 2015

What's happening in 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 June 2015. 

  • Active condo/townhomes listings: 72FranklinTN Condo and Townhome Market Trends--July 2015
  • Of those units currently on the market, the number under contract: 14
  • Properties closed in June : 29
  • Average sales price: $278,072
  • Average list price: $283,065
  • Average sales price to list price ratio: 98.2%
  • Average days on the market: 46
  • Average per SF sold price: $175.33
  • Lowest per SF sold price: $121.74 (Regency Square)
  • Highest per SF sold price: $253.33 (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 72 homes and divide that by last month's closed sales (72/29) you get 2.48 months. That means if the current inventory stayed the same, it would take around 2 1/2 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 June 2015 reflect a very strong seller's market. The demand for affordable housing continues to drive the condo/townhome market upward. In fact, Franklin TN, has been in a strong seller's market for the past couple of years.

So, what do those numbers mean to buyers and sellers?

If you are a buyer in this market, housing prices are continuing to rise in Franklin TN. You can expect competition for exceptional homes that interest most buyers. In fact, many homes go under contract the same day as they first appear in the MLS. 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 get an accepted offer on 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. Why wait when this is the time that most Condos and Townhomes are sold in Franklin.

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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Rainmaker
3,096,167
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Sounds like such a great place to live, thanks for the nice update and I hope many buyers and sellers are giving you a call to help them out!

Jul 07, 2015 04:31 AM #1
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Tom - the Franklin TN Condo and Townhome market sounds positive!  Buyers and Sellers need to give you and Tammie a call to get the experts in the area. 

Jul 07, 2015 05:43 AM #2
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Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Tom - Very nice market report and a great explanation of what it all means for your Franklin condo buyers and sellers.

Jul 07, 2015 06:21 AM #3
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Tom,

Nicely written and clear report, if anyone asks me about Franklin, TN I know the perfect team to send them to.    Wishing you all the best, A

Jul 07, 2015 06:48 AM #4
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Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Hi Tom,  Sounds like your market is still HOT!  This is great information for anyone thinking about jumping into the market.

Jul 07, 2015 07:27 AM #5
Rainmaker
1,541,836
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Tom, it looks like it's a great time to sell in Franklin TN. Your market report displays that you are the best agent to contact to go from listed to sold. You know your market and are always current with the latest market trends. 

Jul 08, 2015 12:12 AM #6
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Such a good condo market Tom. Glad you are healing well and getting those knees back into condition. 

Jul 08, 2015 11:35 AM #7
Rainmaker
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Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Tom. Well done report, lots of very important information for anyone considering selling their home. They should contact you to discuss representation.

Make it a great week!

Jul 12, 2015 06:51 PM #8
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

How are you Tom?  Came over to see if you had a recent blog for us. Great condo and townhome report for Franklin. ( as usual!)

Jul 22, 2015 01:36 AM #9
Rainmaker
1,267,934
Alan Kirkpatrick
Austin Texas Homes - Round Rock, TX
Alan in Austin

Tom White 

Townhome living can be great. These look awesome. Have a wonderful week 

Jul 23, 2015 06:47 AM #10
Rainmaker
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Tom clearly the market is looking good in Franklin Tennessee so I hope you are helping these statistics:), Endre

Jul 28, 2015 03:22 PM #11
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will appreciate your local market reports.

Have a great day and an outstanding weekend.

Jul 31, 2015 12:36 AM #12
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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Tom excellent information here for those looking to buyer or sell in Franklin.

Sep 14, 2015 11:13 AM #13
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Tom White

Franklin Homes Realty LLC, Franklin TN
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