Franklin Massachusetts Real Estate Report May 2015
Do you want to see what has gone on in the Franklin Real Estate market for the month of May, 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 May 2015 vs May 2014
In May of 2015 there were 21 homes that closed within the month for Franklin MA Real Estate. This a increase of 3 units, as there were 18 homes that closed in May of 2014.
The average list price for the homes that closed in May of 2014 was $405,961
The average list price for the homes that closed in May of 2015 was $351,747
The average sale price for the homes that closed in May of 2014 was $408,383
The average sale price for the homes that closed in May of 2015 was $350,071
The average market time for the homes that closed in May of 2014 was 53 days.
The average market time for the homes that closed in May of 2015 was 67 days.
Homes Under Contract For May 2015
23 homes went under agreement in the month of May. The average list price of the homes that went under agreement was $489,435. The average time on the market for these homes were 29 days. May was an excellent month for homes going under contract. Activity picked up quite a bit as it typically does during this stretch.
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 May Homes For Sale Inventory Levels
The are currently 69 homes on the market in Franklin MA. The average list price of these homes is $596,296. Inventory increased very slightly over what was available last month by just two homes. This is the third month in a row inventory has gone up. This is a much needed shot in the arm for buyers.
The average days on the market is 170 which is deceiving due to the fact there is “to be built” new construction that is artificially inflated the days. Homes are actually selling very quickly if priced properly.
Franklin MA Real Estate Market Analysis
Current Franklin Real Estate Analysis
Inventory has settled into a range where buyers at least have some choices. It was down for so long it made it extremely competitive for a buyer looking for a home to purchase in town. Buyers were really feeling the squeeze as there were so few properties available. As it typically does inventory has gone up steadily over the last few months as most homeowners target the spring market for a home sale.
May was a very good month for closed transactions with 21. This beat the amount of sales last year at the same time. During the same time period last year there were 18 sales. Home going under contract were also outstanding with 23 sales.
The market should continue forward with a solid pace through the next few months. Sales may not be quite as good as the Spring selling months but it will be close. In some pockets of the market sellers will still be in the drivers seat. Buyers need to understand inventory levels at the price point they are looking in and act accordingly when they find a home they are interested in.
Franklin remains one of the more popular places to live and is a destination town that a number of buyers will circle as a place to check out.
Year to date there have been 73 sales. At this same point in time last year there were 54 sales. A very healthy jump!
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 Massachusetts homes for sale.
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See what took place in the Franklin real estate market last month in the link above.