July 28, 2017
Franklin June 2017 sales show 5.6% appreciation
- Sales of Single family residences in Franklin were slightly down to 238 in June (vs. 248 in June 2016 and 260 in June 2015).
- The average home sold was 3,088 sq ft (vs. 3,250 sq ft in 2016 and 3,306 in June 2015).
- Average sales price was $556,636 in 2017 up from $554,857 in 2016 and $523,706 in 2015 (a fractional 0.3% year over year increase).
- Adjusting to a square foot basis sales prices increased 5.6% to $180.26 from $170.73 per sq ft in 2016 and $158.41 in 2015.
- Appreciation over the last 3 months comes in at 3.2%.
- 63 of these 238 sales (26.5%) were new construction (vs. 7.7% in 2016)
Can I ask for some feedback from you please? Would you like to see the data I’ve collected displayed in graph form so that you can see trends? Maybe one graph a month, maybe more? Add you comments below.
This month’s analysis: Home sales in Franklin continue to push forward but over the last few months, considering all the stats together, there appears to be a noticeable slow-down in the overall strength of the forward push. Let me be clear we are still moving forward, just the pace of that forward motion has calmed – which it probably needed to! I know a lot of you reach out to me asking if there’s a bubble that’s about to burst and I don’t think this is the case. It will be interesting to see if this trend continues over the coming months….
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