September 22, 2017

Franklin August 2017 sales show 6.0% appreciation

PrintAugust 2017 sales stats suggest annualized appreciation of 6.0% in Franklin which breaks down into the following detail:

  • 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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Posted by Simon

Simon Hartland has been selling real estate in Franklin and surrounds since 2000. Don't let his silly accent fool you into thinking he's not more local than you are!

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