September 22, 2017
Franklin August 2017 sales show 6.0% appreciation
- Sales of Single family residences in Franklin were up to 242 from 210 in August 2016 (and 237 in August 2015)
- The average home sold was 3,116 sq ft (vs. 3,068 sq ft in 2016 and 3,053 in August 2015).
- Average sales price was $581,740 in 2017, up 8.4% from $536,603 in 2016 and $485,841 in August 2015.
- Adjusting to a square foot basis, sales prices increased 6.0% to $186.69 per sq ft from $176.07 in 2016 and $159.14 in 2015.
- Appreciation over the last 3 months comes in at 4.3%.
- 27.2% of all sales were new construction
After a big bump in July’s numbers I was waiting to see what might happen with August’s data and again there’s reasonable appreciation at 6%. Having seen the appreciation pattern broken by July’s 16.2% spike we appear to be reverting to the trend line in August. I double checked this by going back with a “rolling 12 month average” appreciation number – for August 2017 that number came in at 6.5%. In my estimations, July was a blip, not a true trend change.
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