March 7, 2017

Franklin February 2017 sales show 5.7% appreciation

PrintSo long February! Yes, another month has flown by and updated sales statistics for the month are here.  Here’s what we know about real estate prices in Franklin, TN:

  • Sales of Single family residences in Franklin were up to 129 in February 2017 (vs. 118 in Feb 2016 and 128 in Feb 2015).
  • The average home sold was 2,907 sq ft  (vs. 2,763 sq ft in Feb 2016 and 3,281 sq ft in Feb 2015).
  • Average sales price was $486,491 up 11.2% from $437,421 in 2016 but still down from $528,060 in 2015 (but notice the difference in house size).
  • Adjusting to a square foot basis sales prices increased 5.7% to $167.35 per sq ft from $158.31  in 2016 & $160.94 in 2015.
  • 46 of these 129 sales (35.7%) were new construction (vs. 36.4% in 2016)

This is why adjusting sales for size is critical to really understanding our market.  Sales prices  in the last 3 Februaries appear to be all over the place with Feb 2017 still 7.9% below Feb 2015 sales numbers whereas in fact, when we adjust to a per sq ft basis, prices are actually up 4%!  The difference in home size was significant enough between 2015 and 2017 that when you adjust accordingly, the numbers tell a different story.

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.

Facebook Comments

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!

View more posts from this author

Leave a Reply

Your email address will not be published. Required fields are marked *