Franklin TN Real Estate Statistics 3rd Quarter 2013Real Estate BlogsUpdated on Nov 8, 2013 View more like this | Visit FRANKLIN, TN | Contact Exit Realty Music City |
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The Franklin TN Real Estate market has been very strong in 2013 and the sales statistics are in for the third quarter of 2013. I want to review the third quarter results and compare these results with the second quarter of 2013 and see how the market is trending.
I also think that there is value in comparing this years third quarter results with the third quarter of last year, July 1st 2012 through September 30th 2012 so that we can also get an understanding of how the market is moving in Franklin for the past year.
Third Quarter 2013
During the Third quarter of 2013 there were a total of 575 site built single family homes that sold in Franklin:
Franklin Single Family Home Sales 7/1/2013 through 9/30/2013
Courtesy of Realtracs:
| Closed 575 Properties Found Franklin TN Real Estate Sales | |||||||
| Square Feet | Bedrooms | Full Baths | Half Baths | List Price | Sales Price | Days on Market | |
| MIN | 864 | 2 | 1 | 0 | $69,900 | $60,000 | 0 |
| AVG | 3,166 | 3.75 | 2.78 | 0.78 | $485,200 | $473,828 | 64 |
| MEDIAN | 3,031 | 4 | 3 | 1 | $411,505 | $405,000 | 54 |
| MAX | 17,268 | 7 | 9 | 3 | $5,795,000 | $5,000,000 | 540 |
We can now break these numbers down to three averages: The chart shows that Franklin homes that sold in the third quarter of 2013 were listed for an average price of $485,200 with an average list price per square foot of $153.25. The average day's on market were 64. This also shows us that the average list price of homes that sold received on average 97.66% of the list price during the third quarter of 2013.
Second Quarter 2013
During the second quarter of 2013 there were a total of 628 single family home sales.
Franklin Single Family Home Sales 4/1/2012 through 6/30/2012.
Courtesy of Realtracs:
| Closed 628 Properties Found Franklin TN Home Sales | |||||||
| Square Feet | Bedrooms | Full Baths | Half Baths | List Price | Sales Price | Days on Market | |
| MIN | 816 | 2 | 1 | 0 | $46,000 | $43,000 | 0 |
| AVG | 3,120 | 3.75 | 2.72 | 0.78 | $451,965 | $441,950 | 65 |
| MEDIAN | 2,940 | 4 | 3 | 1 | $388,000 | $384,000 | 53 |
| MAX | 14,040 | 8 | 9 | 4 | $4,350,000 | $3,600,000 | 782 |
We can now break these numbers down to three averages: The chart shows that Franklin homes that sold in the second quarter of 2013 were listed for an average price of $451,965 with an average list price per square foot of $144.86. The average day's on market were 65. This shows us that the average list price of homes that sold received on average 97.78% of the list price during the second quarter of 2013.
Third Quarter 2012
During the third quarter of 2012 there were a total of 536 single family site built homes that sold in Franklin:
Franklin Single Family Home Sales 7/1/2012 through 9/30/20112.
Courtesy of Realtracs:
| Closed 536 Properties Found Homes for Sale Franklin TN | |||||||
| Square Feet | Bedrooms | Full Baths | Half Baths | List Price | Sales Price | Days on Market | |
| MIN | 818 | 0 | 0 | 0 | $43,245 | $35,166 | 0 |
| AVG | 3,067 | 3.71 | 2.65 | 0.75 | $421,275 | $407,765 | 79 |
| MEDIAN | 2,967 | 4 | 2 | 1 | $359,927 | $351,320 | 66 |
| MAX | 9,802 | 6 | 6 | 3 | $4,770,000 | $3,800,000 | 711 |
We can now break these numbers down to three averages: The chart shows that Franklin homes that sold in the third quarter of 2012 were listed for an average price of $421,275 with an average list price per square foot of $137.36. The average day's on market were 79. This shows us that the average list price of homes that sold received on average 95.09% of the list price during the third quarter of 2012.
Summary & Trends of These Franklin Real Estate Statistics
Third Quarter 2013 Second Quarter 2013 Third Quarter 2012
Homes Sold = 575 Homes Sold = 628 Homes Sold = 563
Avg. List Price = $485,200 Avg. List Price = $451,965 Avg. List Price = $421,275
Avg. Sale Price = $473,828 Avg. Sale Price = $441,950 Avg. Sale Price = $407,765
Avg. SP/SQFT Ratio = $149.66 Avg. SP/SQFT Ratio = $141.65 Avg. SP/SQFT Ratio = $132.95
Avg. SP/LP Ratio = 97.66% Avg. SP/LP Ratio = 97.78% Avg. SP/LP Ratio = 95.09%
Avg. Day's On Mkt = 64 Avg. Day's On Mkt = 65 Avg. Day's On Mkt = 79
The information shows that the Franklin TN market continues to trend in a positive direction. The average sale price is up a robust 16.2% in the past year, the average sale price to list price ratio is up for the year with sellers receiving approximately 97.66% vs. 95.09% of asking price in the previous year. The average days on market continue to trend in a positive direction as well showing us that homes are not taking as long to sell.
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