Franklin TN Real Estate - August 2011 Market Report
All the numbers are up in Franklin this August! This is a great sign for the Franklin Real Estate market!
2010 2011 Percent increase
# of homes sold 124 129 +3%
Avg List Price $392,134 $410,794 +3.5%
Avg Sales Price $381,122 $391,737 +3%
GNAR (the Greater Nashville Association of Realtors) reported that home sales in the Middle Tennessee area were up 28% over the same period in 2010.
The first half of the year had distorted numbers because of the Tax Credit Incentive that was offered in the spring of 2010. The market is truly beginning to stabilize finally.
Inventory is down about 11% but there is still a 10 month supply of homes. This time last year there was a 15 month supply. This is good news for those hoping to sell this fall.