Franklin Massachusetts Real Estate Report April 2014
Do you want to see what has gone on in the Franklin Real Estate market for the month of April along with year over year comparisons? Take a look at our reporting of the Franklin MA market. While you are also view the Real Estate guide to Franklin Massachusetts where you will find out why Franklin is a popular choice for home buyers including information on town history, schools, demographics and more.
Franklin MA Real Estate Activity For April 2014 vs April 2013
In April of 2014 there were 16 homes that closed within the month for Franklin MA Real Estate. This is an decrease of 7 units, as there were 23 homes that closed in April of 2013.
The average list price for the homes that closed in April of 2013 was $371,926
The average list price for the homes that closed in April of 2014 was $403,483
The average sale price for the homes that closed in April of 2013 was $364,804
The average sale price for the homes that closed in April of 2014 was $391,869
The average market time for the homes that closed in April of 2013 was 112 days.
The average market time for the homes that closed in April of 2014 was 118 days.
Homes Under Contract For April 2014
19 homes went under agreement in the month of April. The average list price of the homes that went under agreement was $548,274. The average time on the market for these homes were 38 days. April was an outstanding month for homes going under agreement in the Franklin Real Estate market especially when you consider how few homes there are for sale.
January 2011 – 2013 Final Year Real Estate Market Statistics For Franklin Massachusetts
For the period of January to December of 2012 there were 269 properties sold.
For the period of January to December of 2012 there were 243 properties sold.
For the period of January to December 2011 there were 227 properties sold.
For the period of January to December in 2013 the average list price was $398,877 the average sale price was $392,759 the average market time was 87 days.
For the period of January to December in 2012 the average list price was $405,929 the average sale price was $395,470 and the average market time was 117 days.
For the period of January to December in 2011 the average list price was $399,425 the average sale price was $388,314 and the average time on the market was 110 days.
Current April Homes For Sale Inventory Levels
The are currently 68 homes on the market in Franklin MA. The average list price of these homes is $523,397. The average days on the market is 158 which is really deceiving due to the fact there is much “to be built” new construction. Homes are actually selling very quickly if priced properly. Home inventory increased again from last month with twenty additional home for sale. This is one of the largest inventory jumps Franklin has seen in a very long time.
Franklin MA Real Estate Market Analysis
2013 Franklin Real Estate Analysis
The 2013 Franklin Real Estate market was a breath of fresh air when compared to years past. Across the board the market was much stronger. In fact not since 2005 had we seen such a vibrant market for home sellers. The market was good across all price points but was especially strong for homes selling in price points under $500,000.
Towards the end of 2012 inventory of homes for sale had started to dwindle. When the Spring market started around March of 2013 inventory levels had dropped to their lowest levels in a very long time. This set up the perfect environment for those entertaining the idea of selling their home. The Spring market was an absolute frenzy for sellers. Homes were being sold within days of them being listed for sale. Often times sellers would have multiple bids to choose from. Buyers were under the gun to make a decision and they knew it! If you didn’t act fast on a home you wanted, another buyer would swoop in and grab it.
It really was a perfect storm for home sellers as inventory was very low and interest rates were at record lows. The market remained strong throughout the year and was fueled by a lack of homes for sale. Lower inventory is always a good sign for those who want to sell their home as supply and demand is always a factor with Real Estate values.
For 2013 Franklin ended the year with 269 home sales. In 2012 there were 243 sales.
2014 Franklin Real Estate Analysis
The amount of homes for sale in Franklin has been hovering near the lows for the last decade over the last few months! This however changed this month when there were twenty homes added to the inventory for sale. As we head into April for the first time in a while there are over 50 homes for sale. In fact there are now close to seventy homes for sale.
The fact so many home have been put on the market should not be all that surprising as this is the time of year where inventory increases. What has been more surprising is how long inventory has remained so low. Franklin remains a very vibrant market and a popular place to live. I would expect homes to sell as quickly as they enter the market throughout the next few months.
April was a decent month for closed sales with 16 but trailed last April’s production when there were twenty three sales. This is due to the fact there was a lack of homes for sale more than anything else. Home going under agreement were strong with 19.
As mentioned previously, the average days on the market is noticeably higher in Franklin than some of the other area towns but this is a statistical glitch due to a significant amount of properties that are “to be built.” Franklin has far more new construction than some of the other towns in the area which has a dramatic effect on the days on market statistics.
Sales statistics this year vs last
Year to date there have only been 36 sales which is far off the pace of last year when there were 64 at this time.
The above Franklin Real Estate statistics are for single family homes ONLY and do not include condominiums or multi family homes.
Click the link to see Franklin homes for sale.
Looking for a Franklin MA Realtor? I know where you can find a good one:)