May 15, 2017

Franklin April 2017 sales show 2.4% appreciation

PrintAnother month has passed up by so here are updated Franklin home sales statistics for the month of April.  The scoop on home sales and prices in Franklin, TN are as follows:

  • Sales of Single family residences in Franklin were up to 193 in April 2017 (vs. 170 in April 2016 and 174 in April 2015).
  • The average home sold in April 2017 was 2,995 sq ft  (vs. 3,252 sq ft in April 2016 and 3,140 sq ft in April 2015).
  • Average sales price was $528,169 down 5.7% from $560,219 in 2016 but up from $485,555 in 2015 (notice the difference in house size).
  • Adjusting to a square foot basis sales prices increased 2.4% to $176.35 per sq ft from $172.27  in 2016 & $154.64 in 2015.
  • 64 of these 193 sales (33.2%) were new construction (vs. 27.1% in 2016)

Every month I stress the importance of making an adjustment of values related to home size – this increases the significance of the raw data and offers a greater level of understanding of home price appreciation in Franklin.   While average sales prices over the last year appear to have dipped by 5.7%, the average home size in 2017 was nearly 9% smaller than 2016 meaning that when we adjust sales prices to a per sq ft basis, prices were actually up 2.4% year over year.  The difference in home size is clearly significant.

If you’d like information on homes that is accurate and up to date visit my website SimonHartland.com. Just like those other websites you can create a profile and save your favorite listings there and feel good that you are getting the RIGHT information from a Franklin real estate expert.

I always welcome your feedback, you can call me (615 579-7909), email or like my Facebook page to be kept up with future blog entries and Franklin coming soon real estate listings.

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