Franklin Massachusetts Real Estate Report December 2014
Do you want to see what has gone on in the Franklin Real Estate market for the month of December 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 the 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 December 2014 vs December 2013
In December of 2014 there were 15 homes that closed within the month for Franklin MA Real Estate. This a decrease of 5 units, as there were 20 homes that closed in December of 2013.
The average list price for the homes that closed in December of 2013 was $362,695
The average list price for the homes that closed in December of 2014 was $467,067
The average sale price for the homes that closed in December of 2013 was $335,665
The average sale price for the homes that closed in December of 2014 was $445,600
The average market time for the homes that closed in December of 2013 was 68 days.
The average market time for the homes that closed in December of 2014 was 94 days.
Homes Under Contract For December 2014
6 homes went under agreement in the month of December. The average list price of the homes that went under agreement was $431,250. The average time on the market for these homes were 44 days. December was slow for homes going under contract. This is not all that unusual for the Franklin Real Estate market given the time of year.
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 December Homes For Sale Inventory Levels
The are currently 44 homes on the market in Franklin MA. The average list price of these homes is $548,736. Inventory dropped quite a bit from last month when there were 56 homes for sale. Some of this is due to people taking their homes off the market for the winter.
The average days on the market is 252 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. The amount of homes for sale decreased by sixteen homes from last month.
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.
2014 Franklin Real Estate Analysis
Inventory over the last few months has dropped quite a bit. This is more due to the fact that numerous sellers have taken their homes off the market for the winter than a dramatic increase in sales. This is typical for the time of year. Many of these sellers will put their homes back on the market and try again in the spring.
December was a decent month for closed sales with 15 especially considering that December is typically a slower month for sales. The amount of homes going under contract was really lagging however with only 6.
While showing activity has clearly slowed as it does during this winter stretch, the market is poised to be a good one for sellers come spring time with inventory being so ridiculously low. Sellers should be in prime position in just a couple of months.
Franklin remains a very popular place to live and is a destination town that a number of buyers will circle as a place to check out.
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
Franklin ended the year with 254 sales which is down from last year 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.
Click the link to see Franklin Mass homes for sale.
Looking for a Franklin MA Realtor? I know where you can find a good one:)