February 18, 2016

Franklin February 2016 sales show 1.6% price dip

PrintHasta la vista February 2016!  Yes, another month has flown by and updated sales statistics for the month are here!  Here’s what we know about real estate in Franklin, TN:

  • Sales of Single family residences in Franklin were down to 118 in February 2016 (vs. 128 in February 2015).
  • The average home sold was 2,763 sq ft (vs. 3281 in Feb 2015).
  • Average sales price was $437,421 in 2016, down from $528,060 in 2015 (a seemingly whopping 17.2 year over year decrease).
  • Adjusting to a square foot basis sales prices decreased 1.6% to $158.31 per sq ft from $160.94 in 2015.

Adjusting sales for size is critical to really understanding our market.  Sales prices “appeared” to have fallen dramatically (-17.2%) by one measure but the difference in home size was significant between 2015 and 2016 and when you adjust accordingly, the numbers tell a different story (prices down by just 1.6%)!

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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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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