Franklin Massachusetts Real Estate Report March 2015
Do you want to see what has gone on in the Franklin Real Estate market for the month of March 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 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 March 2015 vs March 2014
In March of 2015 there were 19 homes that closed within the month for Franklin MA Real Estate. This an increase of 10 units, as there were 9 homes that closed in March of 2014.
The average list price for the homes that closed in March of 2014 was $537,044
The average list price for the homes that closed in March of 2015 was $386,505
The average sale price for the homes that closed in March of 2014 was $527,667
The average sale price for the homes that closed in March of 2015 was $383,742
The average market time for the homes that closed in March of 2014 was 324 days.
The average market time for the homes that closed in March of 2015 was 119 days.
Homes Under Contract For March 2015
6 homes went under agreement in the month of March. The average list price of the homes that went under agreement was $457,867. The average time on the market for these homes were 98 days. March was below average for homes going under contract. This is due mostly to the lack of homes available for sale.
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 March Homes For Sale Inventory Levels
The are currently 38 homes on the market in Franklin MA. The average list price of these homes is $658,466. Inventory increased by a slight margin from last month when there were 34 homes for sale. Franklin’s inventory has been fluctuating quite a bit 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 257 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 moved up and down quite a bit. There are still however a very low number of homes for sale. Inventory levels over the next few months however should rise as they typically do heading into the spring market.
March was an excellent month for closed transactions with 19. This was quite a bit more than last year during the same time period when there was nine. Home going under contract were slower with only 6.
We are entering the best time of the year to sell a home. The market is set up for for those wishing to sell a home with inventory remaining so low. In some pockets of the market there will end up being bidding wars and homes selling over asking price.
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.
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.
Click the link to see Franklin Mass homes for sale.
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See what took place in the Franklin real estate market last month in the link above.