Franklin Massachusetts Real Estate Report February 2015
Do you want to see what has gone on in the Franklin Real Estate market for the month of February 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 Massachusetts, 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 February 2015 vs February 2014
In February of 2015 there were 10 homes that closed within the month for Franklin MA Real Estate. This an increase of 4 units, as there were 6 homes that closed in February of 2014.
The average list price for the homes that closed in February of 2014 was $363,083
The average list price for the homes that closed in February of 2015 was $436,190
The average sale price for the homes that closed in February of 2014 was $361,583
The average sale price for the homes that closed in February of 2015 was $431,330
The average market time for the homes that closed in February of 2014 was 50 days.
The average market time for the homes that closed in February of 2015 was 100 days.
Homes Under Contract For February 2015
7 homes went under agreement in the month of February. The average list price of the homes that went under agreement was $474,771. The average time on the market for these homes were 145 days. February was fair for homes going under contract especially consider how few homes are available to purchase.
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 February Homes For Sale Inventory Levels
The are currently 34 homes on the market in Franklin MA. The average list price of these homes is $585,450. Inventory dropped by a huge from last month when there were 58 homes for sale. Franklin’s inventory has been jumping around for the last few months. Homes are selling very quickly and will continue to do so as we head towards spring.
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
Current Franklin Real Estate Analysis
Inventory over the last few months has continued to fluctuate quite a bit. One month it drops by quite a bit and the next month it is up again. The overall trend however has been less homes for sale as a number of sellers have taken their homes off the market for the winter. Many of these properties could come back on later this Spring.
February was an average month for closed sales with 10. Given the time of year one would expect sales to be around these amounts. The amount of homes going under contract was also average with 7.
The market is poised to great for sellers over the coming months when more buyers enter the market. With inventory so low there will be a lot of competition for good homes. It will not be suprising to see some homes get multiple offers with very strong sale prices.
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 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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