Franklin Massachusetts Real Estate Report July 2014
Do you want to see what has gone on in the Franklin Real Estate market for the month of July along with year over year comparisons? Take a look at our reporting of the Franklin MA market. While you are also view what’s to love about Franklin real estate, 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 July 2014 vs July 2013
In July of 2014 there were 46 homes that closed within the month for Franklin MA Real Estate. This is an increase of 24 units, as there were 22 homes that closed in July of 2013.
The average list price for the homes that closed in July of 2013 was $408,759
The average list price for the homes that closed in July of 2014 was $442,233
The average sale price for the homes that closed in July of 2013 was $405,923
The average sale price for the homes that closed in June of 2014 was $437,609
The average market time for the homes that closed in July of 2013 was 49 days.
The average market time for the homes that closed in July of 2014 was 82 days.
Homes Under Contract For July 2014
19 homes went under agreement in the month of July. The average list price of the homes that went under agreement was $482,88. The average time on the market for these homes were 27 days. July was another good month for homes going under agreement in the Franklin Real Estate market.
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 July Homes For Sale Inventory Levels
The are currently 67 homes on the market in Franklin MA. The average list price of these homes is $557,540. The average days on the market is 184 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 remained the same as 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. In 2012 there were 243 sales.
2014 Franklin Real Estate Analysis
The amount of homes for sale in Franklin had been hovering near the lows for the last decade over the first quarter of the year. Inventory over the last few months however has been on the rise. This month was the first time in a while that inventory has not increased. The market right now is performing very well.
Franklin remains a very popular place to live and the market continues to show that with a vibrant sales volume. Sales for the year are off from last year but the gap is closing fast!
July was an incredible month for closed sales with 46. The amount of sales actually more than doubled the total for this time last year when there were 22 sales. The amount of homes going under agreement was also pretty good as well 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 144 sales which is far off the pace of last year when there were 154 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 Massachusetts homes for sale.
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