Franklin Massachusetts Real Estate Report August 2015
Do you want to see what has gone on in the Franklin Real Estate market for the month of August, along with year over year comparisons? Take a look at our detailed reporting of the Franklin MA market. While you are here make sure you have a look at my real estate agents guide to Franklin Mass, where you will find out why the town is a popular choice for home buyers including information on town history, schools, demographics and more.
Franklin MA Real Estate Activity For August 2015 vs August 2014
In August of 2015 there were 39 homes that closed within the month for Franklin MA Real Estate. This a decrease of 3 units, as there were 36 homes that closed in August of 2014.
The average list price for the homes that closed in August of 2014 was $446,452
The average list price for the homes that closed in August of 2015 was $430,179
The average sale price for the homes that closed in August of 2014 was $439,185
The average sale price for the homes that closed in August of 2015 was $426,178
The average market time for the homes that closed in August of 2014 was 46 days.
The average market time for the homes that closed in August of 2015 was 58 days.
Homes Under Contract For August 2015
20 homes went under agreement in the month of August. The average list price of the homes that went under agreement was $457,815. The average time on the market for these homes were 62 days. August was a good month for homes going under contract.
January 2012 – 2014 Final Year Real Estate Market Statistics For Franklin Massachusetts
For the period of January to December of 2014 there were 254 properties sold.
For the period of January to December of 2013 there were 271 properties sold.
For the period of January to December of 2012 there were 243 properties sold.
For the period of January to December in 2014 the average list price was $437,012 the average sale price was $429,966 the average market time was 77 days.
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.
Current August Homes For Sale Inventory Levels
The are currently 67 homes on the market in Franklin MA. The average list price of these homes is $592,464. Inventory decreased again from last month but just by a very small margin with 2 less homes. This is the second month in a row inventory has dropped. Inventory previously had been rising.
The average days on the market is 170 which is deceiving due to the fact there is “to be built” new construction that is artificially inflated the days. Homes are actually selling very quickly if priced properly.
Franklin MA Real Estate Market Analysis
Current Franklin Real Estate Analysis
Inventory of homes for sale has remained fairly consistent over the last few months. Franklin had another very strong month for sales. Pending transactions was also pretty decent as well. With inventory dropping again there are not a lot of homes for buyers to look at in most price points. Given this it creates a competitive atmosphere for buyers.
August was an excellent month for closed transactions with 39. Last year during this time frame sales were also strong with 36. Home going pending were also decent but not spectacular with 20.
Moving forward home sales should be good but not quite as strong as the Spring months. In certain price points of the market where inventory is still low, sellers will still be in the drivers seat.
Franklin remains one of the more popular places to live and is a destination town that a number of buyers will circle as a place to check out.
Year to date there have been 186 sales. At this same point in time last year there were 181 sales. Through August sales have been remarkably similar to last year at this time.
2014 Sales statistics vs 2013
Franklin ended 2014 with 254 sales which is down from 2013 when there were 271.
The above Franklin Real Estate statistics are for single family homes ONLY and do not include condominiums or multi family homes.
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See what took place in the Franklin real estate market last month in the link above.