Franklin (Franklin, TN)
Franklin (Franklin, TN) Real Estate News
Tomwhite
Franklin TN Condo and Townhome Market Trends -- March 2015
Tom White, Franklin Homes Realty--South of Nashville TN (Franklin Homes Realty LLC (615) 870-8169 or www.FranklinHomesRealty.com)

Franklin TN Condo and Townhome Market Trends -- March 2015 

What's happening in the Franklin TN Condo and Townhome market? Should I buy now or wait? Should I get my condo or townhome on the market right away or delay? All good questions about the Franklin TN Condo and Townhome market. The best place to start is to look at a current market report. Let's see what happened in Franklin TN in February 2015.

Franklin TN Condo and Townhome Market Trends -- March 2015

  • Active condo/townhomes listings: 54
  • Of those units currently on the market, the number under contract: 16
  • Properties closed in February: 18
  • Average sales price: $244,702
  • Average list price: $250,113
  • Average sales price to list price ratio: 97.8%
  • Average days on the market: 58
  • Average per SF price: $153.51
  • Lowest per SF price: $102.79 (Forrest Crossing)
  • Highest per SF price: $250.31 (Grant Park)

To determine whether it's a buyer's or seller's market, REALTORS® use something called absorption rate. If you take the current inventory of 54 homes and divide that by last month's closed sales (54/18) you get 3 months. That means if the current inventory stayed the same, it would take 3 months to sell all the existing homes.  A normal or steady market would be 5-7 months; anything under 5 months would be considered a seller's market; anything over 7 months would be considered a buyer's market.

The Franklin TN condo and townhome sales for January 2015 reflect a seller's market. The low inventory coupled with a steady demand continues to drive the market upward. Over the last 12 months, prices on condos and townhomes have risen an average of 8.4%.

Now, let's answer those questions about buying and selling.

If you are a buyer, housing prices are continuing to rise in Franklin TN. Even with some expected increase in inventory as we move into Spring, now is a great time to make that purchase. Springtime usually brings out more buyers--resulting in more competition for homes. This generally translates into higher prices. Whether you are buying new construction or an existing home, it is extremely important to enlist the aid of an experienced buyer's agent to help you pay no more than you should for the condo or townhome you desire.

If you are thinking of selling your home,  NOW is the time to get your home on the market. The low inventory means that homes are selling quickly. Why wait if you think you will be selling this Spring? 

When you are ready to buy a Franklin TN condo or townhome, or sell your existing Franklin home contact Tom White of Franklin Homes Realty LLC at (615) 870-8169.


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.
Tammiewhite2
Spring Has Sprung! It's Time to Sell Your Franklin TN Home
Tammie White, Franklin TN, South of Nashville ((615) 495-0752 or www.FranklinHomesRealty.com)

It's Time to Sell Your Franklin TN HomeIt feels like it's been a long, cold winter in Franklin TN but temps are projected to be in the mid-60's tomorrow and buyers are calling to get in to see houses.

There's only one problem--our housing inventory is extremely low. There are only 455 homes currently available in Franklin. One of the hottest selling price points are Franklin homes under $300,000. Unfortunately, there are only 9 single-family homes available in all of Franklin

Buyers are anxious. They want to take advantage of low interest rates. But our low housing inventory has them worried. With just 148 single-family homes available in all of Franklin priced under $500,000, you can see why they are troubled. Of that, 74 are new construction homes that won't be ready for months. Are you beginning to see the problem here?

It's time to sell your Franklin TN home. Franklin Homes Realty specializes if your local market. Our motto is GET REAL. GET LOCAL. We are your trusted Franklin home selling team. Pick up the phone and call us today at (615) 495-0752. We would be happy to meet with you and provide a FREE Competitive Market Analysis (CMA). Don't wait any longer.

Spring has sprung! It's time to sell your Franklin TN home.

 
 
Tammie White, Managing Broker/Owner
Franklin Homes Realty LLC
GET REAL. GET LOCAL.
 
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
Tomwhite
How Much Will I Pay For A Franklin TN Condo/Townhome? | February 2015
Tom White, Franklin Homes Realty--South of Nashville TN (Franklin Homes Realty LLC (615) 870-8169 or www.FranklinHomesRealty.com)

How Much Will I Pay For a Franklin TN Condo/Townhome? February 2015 

As we move into the second month of 2015, buyers are considering whether this is a good time to purchase a Franklin TN condo or townhome. The question is best answered by looking at the current market--is it a buyer's market or a seller's market, are prices are going up or down, and how long are homes staying on the market? To understand these factors you need to look at a current market report. Let's take a look at what happened in Franklin TN in January 2015.

How much will I pay for a Franklin TN Condo/Townhome?|February 2015

  • Active condo/townhomes listings: 68
  • Of those units currently on the market, the number under contract: 16
  • Properties closed in January: 21
  • Average sales price: $278,531
  • Average list price: $277,809
  • Average sales price to list price ratio: 100.2%
  • Average days on the market: 62
  • Average per SF price: $182.29
  • Lowest per SF price: $93.38 (Andover)
  • Highest per SF price: $233.03 (Westhaven Condos)

To determine whether it's a buyer's or seller's market, REALTORS® use something called absorption rate. If you take the current inventory of 68 homes and divide that by last month's closed sales (68/21) you get 3.2 months. That means if the current inventory stayed the same, it would take a little over 3 months to sell all the existing homes.  A normal or steady market would be 5-7 months; anything under 5 months would be considered a seller's market; anything over 7 months would be considered a buyer's market.

The Franklin TN condo and townhome sales for January 2015 reflect a seller's market. The inventory is slowly increasing but a steady demand continues to drive the market upward. Over the last 12 months, prices on condos and townhomes have risen an average of 8.4%.

For the first time in many months, the sales price to list price ratio is in excess of 100% This is due primarily to the fact that out of the 21 closed homes, the majority of them (11) are new construction. Oftentimes the sales price on new construction homes exceeds the list price due to add-ons by the buyer.

Whether you are buying new construction or an existing home, it is extremely important to enlist the aid of an experienced buyer's agent to help you pay no more than you should for the condo or townhome you desire.

In this market, buyers need to act very quickly to secure the home they desire. TW Realty Group is here to help. When you are ready to buy a Franklin TN condo or townhome, contact Tom White of TW Realty Group at (615) 870-8169.


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.
Tammiewhite2
Fight Night Hosted by The People's Church in Franklin TN
Tammie White, Franklin TN, South of Nashville ((615) 495-0752 or www.FranklinHomesRealty.com)

As Marriage Mentors, Tom and I have a wonderful opportunity to interact with other couples in our church. Fortunately, The People's Church comes along side married couples to help and encourage them in their marital walk. 

One of the things they are so good at doing is offering some fun and entertaining events that help couples grow closer. The year is no exception. On February 15, that's right, Valentine's Day weekend, they are hosting an event called Fight Night. Hmm, that doesn't sound like an event that would help married couples. 

Join us on February 15 from 5 - 7:30 p.m. at The People's Church located at 828 Murfreesboro Road in Franklin and see how conflict can improve your love life. The cost is $33/couple. Drs. Les and Leslie Parrot will be our hosts.

Get ready to rumble! Mark your calendars for Fight Night hosted by The People's Church in Franklin TN.

 
 
Tammie White, Managing Broker/Owner
Franklin Homes Realty LLC
GET REAL. GET LOCAL.
 
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
Tomwhite
2014 End of Year Franklin TN Condo/Townhome Market Report
Tom White, Franklin Homes Realty--South of Nashville TN (Franklin Homes Realty LLC (615) 870-8169 or www.FranklinHomesRealty.com)

2014 End of Year Franklin TN Condo/Townhome Report

What happened with Condo and Townhome sales in 2014? Some very interesting facts emerge when we look at 2014 compared to the past several years.

2014 end of year franklin tn condo/townhome market report

  • 2014 Condo/Townhome sales--240 closed
  • Average list price--$244,799
  • Average sales price--$241,288
  • Sales price to list price ratio--98.6%
  • Average Days On Market (DOM)--50

Looking at the the number of homes closed, we see a considerable drop-off from the 283 condo/townhomes closed in 2013. That number means 43 fewer condo/townhomes or a 15% decrease closed in 2014. I believe that's a significant drop-off, but not so much when compared to 256 closed in 2012, and 169 closed in 2011. 2013 was a banner year in the number of units sold, while 2014 was a good solid year. 

Prices continue to climb. In 2013 the average list price for a condo/townhome was $228,198. The average sale price in that same year was $222,514. If you compare the sales prices for 2013 vs. 2014, you see an increase of 8.4%. That's a large increase over one year. 

While the number of condos/townhomes sold may be fewer, the prices are definitely going up. In all probability this is due to the supply and demand maxim. There is generally a low inventory of homes, but demand is strong. That combination results in higher prices. Simply put, we are in a seller's market in Franklin TN. 

The sales price to list price ratio has continued to inch upwards. In 2011, the ratio was 96.8%, in 2012, 97.3%, in 2013, the ratio was 97.5%. What does that mean? In 2014, the ratio at 98.6% means that homes are selling very close to asking in the current market. 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 pay no more than you should for the condo or townhome you desire.

The last statistic, Days On Market, or DOM, is also very telling. In 2014, the average DOM was 50. Compare that to 2013's DOM of 68, 2012 at 87, and 2011 with a whopping average of 113 Days On Market! 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.

TW Realty Group is here to help. When you are ready to buy a Franklin TN condo or townhome, contact Tom White of TW Realty Group at (615) 870-8169.


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.
Tomwhite
How Much Will I Pay For a Franklin TN Condo/Townhome? January 2015
Tom White, Franklin Homes Realty--South of Nashville TN (Franklin Homes Realty LLC (615) 870-8169 or www.FranklinHomesRealty.com)

How Much Will I Pay For a Franklin TN Condo/Townhome? January 2015 

As we start the new year, buyers are asking the question, "How much will I pay for a Franklin TN condo or townhome in January 2015". Chief among the factors are the size of the unit, the condition of the unit and its location. In addition, and of great importance to you, is whether prices are going up or down, or whether it's a buyer's market or a seller's market. To understand these factors you need to look at a current market report. Let's take a look at what happened in Franklin TN in December 2014.

How much will I pay for a Franklin TN Condo/Townhome? January 2015

  • Active condo/townhomes listings: 52
  • Of those units currently on the market, the number under contract: 10
  • Properties closed in December: 15
  • Average sales price: $330,137
  • Average list price: $333,908
  • Average sales price to list price ratio: 98.9%
  • Average days on the market: 56
  • Average per SF price: $176.07
  • Lowest per SF price: $98.95 (Andover)
  • Highest per SF price: $250.86 (Grant Park)

What difference does all this information mean to buyers? If you are a buyer you will want to know how much competition you might encounter when you are ready to make an offer.  Is it a buyer's market or a seller's market? This is critically important to you, the buyer. To determine whether it's a buyer's or seller's market, REALTORS® use something called absorption rate. If you take the current inventory of 52 homes and divide that by last month's closed sales (52/15) you get 3.5 months. That means if the current inventory stayed the same, it would take about 3 1/2months to sell all the existing homes.  A normal or steady market would be 5-7 months; anything under 5 months would be considered a seller's market; anything over 7 months would be considered a buyer's market.

The Franklin TN condo and townhome sales for December 2014 reflect a seller's market. The inventory continues to be extremely low which coupled with steady demand continues to drive the market upward.

Over the last year, prices on condos and townhomes have risen an average of 10%. The sales price to list price ratio remains at a high level (98.9%).  This means that if a unit is "priced right",  you may have a somewhat limited ability to negotiate. 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 pay no more than you should for the condo or townhome you desire.

I've included the lowest and highest square foot prices for units sold in December, and the names of those developments. If you click on those developments you’ll find their current listings. In this market, buyers need to act very quickly to secure the home they desire. TW Realty Group is here to help. When you are ready to buy a Franklin TN condo or townhome, contact Tom White of TW Realty Group at (615) 870-8169.


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.
Tammiewhite2
My Franklin Home During the Holidays
Tammie White, Franklin TN, South of Nashville ((615) 495-0752 or www.FranklinHomesRealty.com)

My Franklin Home During the HolidaysMy favorite room in our house is our great room. A large fireplace dominates the room and most winter nights we have a fire going in our wood burning fireplace. We have had a woodburning fireplace in every home we've owned so Tom has become an expert at building fires. 

I love the stockings hanging from the mantle which is a beam from a Tennessee barn dating back to the 1800's. Tom sanded and stained the beam and it took four adults to hold it in place while Tom secured it to the wall. The mortise and tenon is still visible on the front of the beam.

Although you can't see it in the photo, our Christmas tree is 12 feet tall. It takes a real team effort each year to get the tree up. My college students are ready to say goodbye to the tree but Tom recognizes I'm not ready to part with it yet. 

Our ornaments are a walk down memory lane. Characters from our kids favorite books and movies. They mark the passage of time from their infant years to present. You will find Spiderman, Dorothy, Woody and Buzz Lightyear, and even Frodo and Gandalf. When the kids were little they would play with the characters as we hung them on the tree--fond memories for me.

As another Christmas has passed, I am reminded of the many blessings we have shared in this room. My Franklin home during the holidays.

 
 
Tammie White, Managing Broker/Owner
Franklin Homes Realty LLC
GET REAL. GET LOCAL.
 
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
Franklin, TN Real Estate Professionals
Explore ActiveRain