Home Prices in Franklin MA for March 2018
Real estate market data for Franklin, MA provided by Michael Mahoney of eXp Realty.
Franklin Home Prices
We have seen several months of listing price increases on home prices in Franklin and we don’t expect things in Franklin to slow down anytime soon.
If you are considering buying a home you can still find deals on a house in Franklin but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, many of the Franklin listings are selling within a few days of hitting the market.
As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Franklin home on which you are making an offer.
If you are interested in how much current inventory is on the market in Franklin you can find that information by clicking on the link.
The inventory of available homes is really low.
The homes that are under contract in Franklin now only took 19 days to receive an offer.
This would suggest that sellers have the upper hand in the market.
If sellers price their home near the market value, if they could potentially expect to get multiple offers from interested buyers.
Low inventory in Franklin has multiple offers coming in on homes similar to what we saw back in 2007.
I don't expect home prices to run up quite as fast as they did. Banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise.
Franklin MA is Outpacing the MLS
As you will see below, Franklin MA is outpacing the entire MLS when measured by the median sales price.
The median list for home price in Franklin for single family homes in Franklin is $599,900.
The price per square foot for listings in this area is $255.
The median sale price in the last three months for a single family home in Franklin is $$439,000.
Find Homes for Sale in Franklin MA
Visit my website to search for homes in Franklin or to be notified when Franklin homes come on the market.