Home prices up $76,650 in Franklin, TN just since 2012
Franklin, TN Housing Market Update through January 2015: Values are still appreciating with less than two months of available homes (1.96). The median home price today is $429,900.
That’s $44,900 above the former ‘peak’ in 2007, and an impressive $76,650 just since 2012.
It’s seriously good to be a homeowner in Franklin, TN right now; really, since Thanksgiving of 2011. And there doesn't seem to be a lack of demand going forward just yet either, with 399 homes currently under contract.
1) The median price will go up and down over the year, but watch the number of sales and the absorption rate [[ # homes available to purchase now /divided by the/ # homes selling per month (include under contract, pending, sold) = available inventory levels ]] to see what is likely to come.
2) This graph is generated from a custom, one page report which includes key indicators like:
a) The % increase for the median home price in each of the last four years
b) Median sales prices each year for the past decade
c) The # of homes sold
d) Median price-per-foot
e) Median square footage
These were critical indicators during the downturn. Any factors that you think we can add to the mix and watch over the past decade?
3) Data from Realtracs. Single Family Homes.
4) If you would like the same information for your specific neighborhood, feel free to leave a note on this post, e-mail, or text. I currently track about 80 of these markets/school zones/communities/neighborhoods for folks around Middle Tennessee.
TEXT (615)714–7918 or e-mail KevinPellatiro@gmail.com
Kevin Pellatiro, Residential Realtor
Benchmark Realty | office (615)371–1544