Franklin TN Real Estate Market overview for December 2014
Franklin is the major real estate market of Williamson County in Middle Tennessee. Below I have tabulated the total market overview for the entire Williamson County market. The first chart is by City and the second is by zip code. The smaller towns like Spring Hill and Thompsons Station only have one zip code for the town so the data is the same for those but in Franklin it is informative to have the data by zip code to learn more about the different sides of town.
As always the table is segmented into 3 parts: the Active, Pending and Sold in that order.
In Brentwood, Bon Aqua, Primm Springs and Fairview the average number of days homes (of the homes for sale) are on the market (DOM) is above 100 days. The lowest is one single home in Eagleville with 11 days. This is a flier as the majority of this area is not in Williamson County, so the next lowest is Nashville homes located in Williamson County at 59 days.
For the entire county with currently 1527 homes for sale in the SINGLE FAMILY RESIDENTIAL category (excludes condos, multifamily, land, and auctions) the sellers have dropped their prices 0.7% while the home is on the MLS. The entire county average home sales price of a home for sale is $698,049, while the average cost of a sold home in the county is $448,056 when considering the past 3 months data. This is virtually the same average home price from 11 months ago.
The biggest change from 11 months ago is that the seller negotiation from final list price to final sales price is reduced from 97.9% to 98.5%. that effectively puts .6% more money into the sellers pocket even though the prices are basically the same. For the average home sale in the county that equates to about $2750.
37069 is the higher priced home sin Franklin with an average sales price of $597,350 and with an big price tag of $1,041,068 for active homes for sale on Realtracs.
37064 has the most homes sold in the past 3 months at 303 homes also the lowest average sales price at $426,069. But also 37064 is also the biggest with the most homes for sale at 375 as of the pulling of this data.
If you want The Relocation Engineer to dig deeper into this report and see how it impacts your Franklin home please comment on the blog or call me directly.