Franklin TN Condo/Townhome Sales 2015

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

Franklin TN Condo/Townhome Market Sales 2015

 

2014 end of year franklin tn condo/townhome market report

  • 2015 Condo/Townhome sales--298 closed
  • Average list price--$261,588
  • Average sales price--$258,464
  • Sales price to list price ratio--98.8%
  • Average Days On Market (DOM)--56

When we consider the number of closed homes in 2015, we see a huge increase from 2014 when 240 condo/townhomes closed. That's a whopping 24% increase!  

Prices continue to climb. In 2014 the average sales price for a condo/townhome was $241,288, in 2015 it was $258,464. If you compare the sales prices for 2014 vs. 2015, you see an increase of 7%.

There continues to be a low inventory of townhomes, but demand is strong. Builders are meeting a portion of that demand with new contstruction. Of the 298 condo/townhomes sold in 2015, 71 were new construction. For those homes priced over $300,000, an even higher percentage, 42% are new construction. Simply put, we are in a seller's market in Franklin TN and have been for at least the past three years.

The sales price to list price ratio (percentage of list price) has continued to inch upwards.

  • 2011:  96.8%
  • 2012:  97.3%
  • 2013:  97.5%
  • 2014:  98.6%
  • 2015:  98.8%

What does that mean? In 2015, Franklin TN condos/townhomes sold for 98.8% of list price. If a home is priced right, there may not be as much potential for negotiation. 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 find the condo or townhome you desire and to pay no more than you should.

The Days On Market, or DOM, continues to be relatively low. In 2015, the average DOM was 56. This means that when a property comes on the market, buyers will want to act quickly to secure the home they desire.

Statistics don't lie.

Franklin Homes Realty LLC is here to help. When you are ready to buy a Franklin TN condo or townhome, contact Tom or Tammie White at (615) 495-0752.

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
2,843,190
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Hi Tom & Tammie, Thank you for providing another detailed market report for Franklin TN 2015 condo/townhome sales.

Feb 01, 2016 05:52 AM #1
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TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Good evening Tom White . Thank you for the detailed market update on what is happening in the Franklin Tennessee condo sales.

Feb 01, 2016 07:27 AM #2
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Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Tom - Excellent market overview for Franklin twnhomes and condos. With high demand and limited inventory, prices are likely to continue rising - potential sellers should call you for guidance on how to maximize the benefits of current market conditions.

Feb 01, 2016 08:00 AM #3
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Tom- What a good market report for Franklin, TN condos.  It looks like if a buyer is interested in a condo in your area, they need to call you!

Feb 01, 2016 10:56 AM #4
Rainmaker
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Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Tom, excellent update on condo and townhome sales in Franklin TN. Buyers looking in the Franklin TN area need to contact you and put your expertise to work!

Feb 01, 2016 10:35 PM #5
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Tom White

Franklin Homes Realty LLC, Franklin TN
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