April 15, 2016
Franklin March 2016 sales show 7.1% appreciation
- Sales of Single family residences in Franklin were up to 186 in March 2016 (vs. 169 in March 2015).
- The average home sold was 3,116 sq ft (vs. 3,290 in March 2015).
- Average sales price was $524,427 in 2016, up from $517,083 in 2015 (a 1.4% year over year increase)
- Adjusting to a square foot basis sales prices increased 7.1% to $168.30 per sq ft from $157.17 in 2015.
Adjusting sales for size is critical to really understanding our market. Average sales prices “appeared” to have bumped very little (just 1.4%) by one measure but the difference in home size was significant enough between 2015 and 2016 that when you adjust accordingly, the numbers suggest real appreciation was 7.1% year over year.
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