Franklin (Franklin, TN)
Franklin (Franklin, TN) Real Estate News
Tomwhite
2014 End of Year Franklin TN Condo/Townhome Market Report
Tom White, TW Realty Group, Franklin TN--South of Nashville (Benchmark Realty, LLC (615) 870-8169 or www.TWRealtyGroup.net)

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®
TW Realty Group
Benchmark Realty LLC
318 Seaboard Lane
Franklin TN 37067
(615) 870-8169
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tom White of Benchmark 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, TW Realty Group, Franklin TN--South of Nashville (Benchmark Realty, LLC (615) 870-8169 or www.TWRealtyGroup.net)

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®
TW Realty Group
Benchmark Realty LLC
318 Seaboard Lane
Franklin TN 37067
(615) 870-8169
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tom White of Benchmark Realty LLC. Any party who uses this material without the written permission of Tom White is subject to copyright infringement and possible lawsuit.
Tammiewhite2
What's My Franklin TN Home Worth? Market Report for December 2014
Tammie White, Franklin TN, South of Nashville ((615) 495-0752 or www.FranklinTNHomesforSaleOnline.com)

What's My Franklin TN Home Worth? Market Report for December 2014

  • What's My Franklin TN Home Worth? Market Report for December 2014Properties currently Active on the market: 592
  • Single-family properties closed in December: 152
  • Average sales price: $430,014
  • Average list price: $436,258
  • Average sales price to list price ratio: 98.6%
  • Average days on the market: 69
  • Franklin TN absorption rate: 3.8 months of inventory (a normal or steady market would be 5-7 months, a buyer's market would be in excess of 7 months, and a seller's market would be less than 5 months)

As we close out the year with the December 2014 closed sales, Franklin continues to be in a seller's market. Given we're in the slowest part of the year, the average days on the market are very good as is the sales price to list price ratio. This bodes well as we enter into 2015 with just 592 homes currently on the market. Many of which are already under contract.

With all this good news regarding home sales, are you wondering what's your Franklin TN home worth? Click the photo below to get the instant value of your home.

What's My Franklin TN Home Worth? Market Report for December 2014

A recent National Association of REALTORS® survey revealed 92% of buyers begin their home search on the internet. Properties heavily marketed there have a greater opportunity to be found by home buyers. This goes way beyond just syndicating your home from the MLS to national websites.

Because so many buyers are beginning their home search on-line, photography has become an important marketing tool for real estate agents. The best way to showcase your home is through the use of professional photography. It is by far the biggest bang for your buck.

Sellers should always ask their real estate agent, if professional photography will be used. If not, find an agent who will. Don't let the agent tell you because we're in a seller's market it isn't necessary. Guess what? No photos, no showings. 

Additionally, the best way to bring attention to your Franklin home is to have an agent who is using the newest technology to get the word out about your home. This includes the use of social media and blogging. Something not many listing agents in the Franklin housing market are doing.

With the recent change in the way our multiple listing service is sending out information to the national housing websites, it's important to have an agent who really has an understanding of aggressively marketing your home on the internet. Especially, if your home has a unique feature that buyers may be looking for. Having your home promoted all over the country is essential to a quick sale.

Want to know how we do this? Pick up the phone and schedule a seller's consultation. We will be happy to share the most recent technology to help you get your home sold quickly for top dollar.

Check out our website. It's easy to see why it gets thousands of clicks each month. This provides your listing with exposure to home buyers all over the country.

When you are ready to sell your Franklin TN home, contact Tammie White at (615) 495-0752.

 
 
Tammie White
TW Realty Group
Email: Tammie@TWRealtyGroup.net
 
 
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.
Tammiewhite2
My Franklin Home During the Holidays
Tammie White, Franklin TN, South of Nashville ((615) 495-0752 or www.FranklinTNHomesforSaleOnline.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
TW Realty Group
Email: Tammie@TWRealtyGroup.net
 
 
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.
Tammiewhite2
Merry Christmas from Franklin TN 2014
Tammie White, Franklin TN, South of Nashville ((615) 495-0752 or www.FranklinTNHomesforSaleOnline.com)

Merry Christmas from Franklin TN

Merry Christmas from Franklin TN 2014

During the Holiday Season more than ever, our thoughts turn

gratefully to those who have made our progress possible.

And in this spirit we say, simply but sincerely

Thank You and Best Wishes

for the Holiday Season and a Happy New Year

TW REALTY GROUP

Tammie and Tom White

 
 
Tammie White
TW Realty Group
Email: Tammie@TWRealtyGroup.net
 
 
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.
Tammiewhite2
Thinking of Listing with a Large Real Estate Team? Think Again!
Tammie White, Franklin TN, South of Nashville ((615) 495-0752 or www.FranklinTNHomesforSaleOnline.com)

Thinking of Listing with a Large Real Estate Team? Think Again!Yesterday, I was contacted by a buyer to view two properties. Work schedules are tough right now so he wanted to see both houses on the same day. He was open to viewing yesterday or this evening. Whichever day would accommodate both sellers.

One seller declined our showing for yesterday. The other property was vacant and available both days so we scheduled the two showings for this evening. While on our way to show these homes tonight, I pulled up the MLS listing. The vacant property had been changed to "Under Contract". I was so hot I was ready to explode.

I called the listing brokerage right away to ask why I hadn't been notified of a change in status. The Administrative Assistant for this large team said the Listing Coordinator had gone for the day. She knew nothing about this listing. I would have to speak directly to the Listing Coordinator. I immediately contacted the Listing Coordinator. He, of course, didn't answer his phone at 4:45 p.m. so I left a message. A not very nice message. 

When the Listing Coordinator contacted me, he had no idea why the property hadn't been changed earlier in the day in the MLS to "under contract". He had turned it in to the Change Status Assistant of the team this morning. Are you starting to get the picture here?

I asked why the showing wasn't cancelled. Apparently, they don't have a Showing Cancellation Assistant. The listings for this team appear under the Team Leader's name in the MLS. There isn't one specific person to speak with about the listings. The Administrative Assistant directs questions to one of four Listing Coordinators, depending who is in the office at a given time. If there are pending appointments, showings aren't cancelled. The sellers just tell the Buyer's Agent when she arrives with clients in tow that the home is no longer being shown because it's under contract. Say what?

He went on to tell me they carry hundreds of listings in the entire Middle Tennessee area. They don't have time to cancel showing appointments. Instead, they just let the Buyer's Agents look like idiots with their clients for not knowing the home went under contract.

Thinking of listing with a large real estate team? Think again! The left hand doesn't know what the right hand is doing. It's not in the best interest of the seller to have so many people who have no idea what is going on with their listing.

My husband and I operate a small husband and wife team. We both know everything that is going on with all our clients. Even if, one of us is the primary contact person. If I'm not available, Tom can easily handle a situation. He's not going to make a buyer or seller wait to learn the status of what's going on with their listing.

And in the event that another showing is scheduled while negotiating a contract, we're going to contact the interested Buyer's Agent to attempt to get them in to see your home so you have more than one offer to choose from. You won't find that kind of service from a real estate team that boasts having 20 agents.

When it comes time to sell your Franklin TN home, don't go with that large, impersonal real estate team that doesn't have a clue what's going on with your listing. Instead, hire a personalized approach to real estate. Call Tammie White today at (615) 495-0752.

 
 
Tammie White
TW Realty Group
Email: Tammie@TWRealtyGroup.net
 
 
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? December 2014
Tom White, TW Realty Group, Franklin TN--South of Nashville (Benchmark Realty, LLC (615) 870-8169 or www.TWRealtyGroup.net)

How Much Will I Pay For a Franklin TN Condo/Townhome? December 2014 

A great many factors determine what you will pay for a Franklin TN Condo or Townhome. Chief among them 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 November.

How much will I pay for a Franklin TN Condo/Townhome? December 2014

  • Active condo/townhomes listings: 49
  • Of those units currently on the market, the number under contract: 9
  • Properties closed in September: 15
  • Average sales price: $260,231
  • Average list price: $263,400
  • Average sales price to list price ratio: 98.8%
  • Average days on the market: 52
  • Average per SF price: $170.31
  • Lowest per SF price: $122.55 (Brentwood Pointe)
  • Highest per SF price: $231.66 (Jamison Station)

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 49 homes and divide that by last month's closed sales (49/15) you get 3.3 months. That means if the current inventory stayed the same, it would take about 3 1/3 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 November reflect a seller's market. The inventory however is 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 (98.8%).  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 November, 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®
TW Realty Group
Benchmark Realty LLC
318 Seaboard Lane
Franklin TN 37067
(615) 870-8169
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tom White of Benchmark Realty LLC. Any party who uses this material without the written permission of Tom White is subject to copyright infringement and possible lawsuit.
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