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October 2014 Franklin TN Real Estate Market overview by The Relocation Engineer

October 2014 Franklin TN Real Estate Market overview by The Relocation Engineer

 

Where else are you going to get this detailed information about the Franklin and Brentwood real estate market?  The Relocation Engineer personally created this detailed analysis and it is proprietary, so you will only find it displayed this way here. 

 

What is this telling you?

Lets review the layout of this data.  The first group is for ACTIVE homes.  You can quickly see what the Average listing price is for each Williamson County City.  Like in Franklin the Avg list price in October is $820,112 and there was 739 listings, with an average time on the MLS of 74 days, in the MLS the day we pulled this data.    The next group is the PENDING section.  Those are homes under contract that the contingencies for financing and inspection have already been met (Does not include Active-Contingent) as those are in the ACTIVES).  The item to track in this section is the percentage of homes that are PENDING.  As this number grows that is an indicator of a future growth market (volume of sales are headed up).  With New Construction taking so much space in the market today, these numbers grow as homes stay in PENDING status for a long time during construction.  The third group shows CLOSED homes (a.k.a SOLDS) and it provides the best information as far as how much sellers are dropping their prices to get offers and then how much they are reducing during the negotiation phase on average.   1.5 % is not a lot for the sellers to drop the list price during the negotiation in Franklin as it was over 2% back in February 2014. 

 

We hope that you find this information crucial in your decision making process to choose a REALTOR and also in helping to decide pricing and negotiating tactics as a buyer or seller.

 

Thinking of selling?  Review these 7 Things to Know and Do before listing it for sale.

 

Franklin TN Real Estate with Mike Grumbles & The Grumbles, Engineering Your Next Move in and around the  Franklin TN Communities.

The Grumbles Team is Your Relocation Engineer in Franklin, Tennessee 615-587-5843.

EXIT Realty of the South | 1227 Lakeview Dr. Suite 1 | Franklin | TN | 37067 | 615.550.5555   Each EXIT Office Independently Owned and Operated

 

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