Franklin MA Real Estate Market Report February 2013

Franklin Massachusetts Real Estate Report February 2013

Franklin MA Real Estate

 

 

 

 

 

Franklin MA Real Estate Activity For February 2013 vs February 2012

In February of 2013 there were 13 homes that closed within the month for Franklin Real Estate. This is an increase of 5 units, as there were 8 homes that closed in February of 2012.

The average list price for the homes that closed in February of 2012 was $475,136

The average list price for the homes that closed in February of 2013 was $431,277

The average sale price for the homes that closed in February of 2012 was $457,550

The average sale price for the homes that closed in February of 2013 was $415,685

The average market time for the homes that closed in February of 2012 was 355 days.

The average market time for the homes that closed in February of 2013 was 111 days.

Homes Under Contract For February 2013

12 homes went under agreement in the month of February. The average list price of the homes that went under agreement was $407,358. The average time on the market for these homes were 258 days. February was a decent month for homes going under contract in the Franklin Real Estate market.

January 2010 – 2012 Final Year Real Estate Market Statistics For Franklin Massachusetts

In Franklin MA for the period of January to December of 2012 there were 243 properties sold.

In Franklin MA for the period of January to December of 2011 there were 227 properties sold.

In Franklin MA for the period of January to December 2010 there were 206 properties sold.

In Franklin MA for the period of January to December in 2012 the average list price was $405,929 the average sale price was $395,470 the average market time was 117 days.

In Franklin MA 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 market time was 110 days.

In Franklin MA for the period of January to December in 2010 the average list price was $411,088 the average sale price was $399,925 and the average time on the market was 102 days.

Current Home For Sale Inventory Levels

The are currently 66 homes on the market in Franklin MA. The average list price of these homes is $453,859. The average days on the market is 265. Home inventory has remained at the  lowest levels it has been in a very long time!

Franklin MA Real Estate Market Analysis

In 2012 the Franklin Real Estate market had a increase in the amount of homes sold as compared to 2011. The increase was a little over 10 percent which is in line with a number other local area towns. Homes priced properly generally moved on average in a 3-4 month time period. There was still a downward trend in Real Estate values through out the earlier part of the year but the weakness occurred mostly in the upper end of the market (over 500k). The average days on market was substantially similar to the previous two years. The lower end of the market (under 400k) remained strong with values holding firmer than in the upper ends of the Franklin market especially over the latter half of the year as inventory levels dropped.

Current home inventory levels started to drop over the latter half of 2012 and have continued to do so since. As we head into March inventory is at the lowest levels I can remember in a very long time. Inventory over the middle to latter half of 2012 was around 85 to 100 homes but has continued to drop steadily as we moved into 2013. It is not all that uncommon for home inventory levels to drop in the Winter season as less people will put their homes up for sale.

Lower inventory is always a good sign for those considering to sell their home as supply and demand is always a factor with Real Estate values. The averaged 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. The month of February was decent for closed sales with 13.

For 2012 there were 243 homes that sold. In 2011 there were 227 sales. 2012 showed about and 9% increase in sales. There are some local towns that show much larger sales gains which is surprising as Franklin is a very popular community for home buyers. In some of the other area towns the increase in sales is between 10-20%.

Year to date there have been 30 home sales. In 2012 at this same time there were 20 sales.

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 MA homes for sale.

Looking for a Franklin MA Realtor? I know where you can find a good one:)

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