April 7, 2017

Franklin March 2017 sales show 3.8% appreciation

PrintThe first quarter of 2017 is over and I have updated my Franklin home sales statistics for the month of March.  Here’s what I can share with you about home prices in Franklin, TN:

  • Sales of Single family residences in Franklin were up to 191 in March 2017 (vs. 186 in March 2016 and 169 in March 2015).
  • The average home sold was 2,998 sq ft  (vs. 3,116 sq ft in Mar 2016 and 3,290 sq ft in Mar 2015).
  • Average sales price was $523,707 down 0.001% from $524,427 in 2016 but up from $517,083 in 2015 (but notice the difference in house size).
  • Adjusting to a square foot basis sales prices increased 3.8% to $174.69 per sq ft from $168.30  in 2016 & $157.17 in 2015.
  • 67 of these 191 sales (35.1%) were new construction (vs. 30.1% in 2016)

Again, making an adjustment of values related to home size is proven to demonstrate a greater level of understanding of home price appreciation in Franklin.   While total average sales prices over the last 3 years appear to have held fairly steady, the average home size in 2017 was nearly 9% smaller than 2015 meaning that when we adjust sales prices to a per sq ft basis, prices are actually up 11.1% over 2 years.  The difference in home size is clearly significant.

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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