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Franklin TN Homes Report – March 2023

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Franklin TN real estate for sale –   The number of home closings have dropped by 17% in the last 12 months but prices still remain firm. The good new for buyers is that homes are listed for a longer time before they are sold giving them time to evaluate options before making an offer.

Franklin TN Home Trends 2-2023

 

  • 108 Franklin homes sold during the month of  February 2023 compared to 129 for the same period last year
  • 375 Franklin homes are currently listing in the Nashville MLS as available for purchase compare to 258 last year
  • 79 homes are currently under contract
  • the median sales price for homes sold during the month of February was $903,622 compared to $927,000 last year a decrease of 2.5%
  • the average list price to sales price ratio for homes sold in February was 98.3% compared to 104.4% last year. 

Search for Franklin TN real estate for sale here – 

Information on this page is based on information on single family homes for sale in Franklin per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed. View the top Franklin neighborhoods here.

This posting and the contents written here are the intellectual property and opinions of Larry Brewer of Benchmark Realty. Providing real estate services to clients in Nashville, Brentwood, Franklin, Spring Hill, Green Hills, and the middle Tennessee area

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(all data current as of 3/23/2023)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

Westhaven Homes for Sale – March 2023

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WesthavenWesthaven Homes are feeling the pain of higher interest rates with only 10 closings for the month of February 2023 compared to 16 closings in February of last year. The average price of homes sold is lower but the price per square foot is within 1 percent of last year at $421

  • the median price of homes sold during the month of February was $1,349,578 compared to $1,658,398 last year
  • the average size of homes sold in February of 2023 was 3578 square feet compared to 4201 last year
  • the list price to sales price ratio of homes sold during the month was 98% compared to 104%
  • The average days on market for homes sold in February was 79 compared to just 2 last year
  • 25 homes are currently pending sale most are under construction
  • 42 Westhaven homes currently for sale as listed in the Nashville MLS but some are under construction

Westhaven homes in Franklin TN have been the one of the most popular neighborhood in Williamson county and all of middle Tennessee for several years.

This posting and the contents written here are the intellectual property and opinions of Larry Brewer of Benchmark Realty. Providing real estate services to clients in Nashville, Brentwood, Franklin, Spring Hill, Green Hills, and the middle Tennessee area

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(all data current as of 3/23/2023)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

Nashville Homes – March 2023 Update

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Nashville homeNashville homes for sale and February 2023 market report – Inventory levels are almost triple what they were 12 months ago but the prices are almost the same as they were last February.

  • 1742 homes sold in Nashville during February of 2023 compared to 2300 for the same month last year a reduction of 32%
  • the median sales price for Nashville homes was $450,000 almost the same as last years $446,175
  • 5827 homes are available for purchase at the end of at end of February compared to 2001 last year an increase of 191%
  • the absorption rate based on February home sales and available inventory is three months
  • the average days on market for Nashville homes is now 59 days
  • 319 Nashville condos sold during the month compared to 400 for the same month last year
  • the median sales price of Nashville condos was $331,900 compared to $329,827 last year

As expected the Federal reserve has made a large impact on the housing market and mortgage rates have at times been over 7% lately taking the affordability of Nashville homes for some people out of reach for now. On the other hand buyers now are a lot less likely to get in a bidding war when most homes come on the market. If you can afford it, buying a home now makes a lot of sense because the prices are possibly bottoming out, and rates are probably topping out. You should be able to refinance in the future for a much lower rate and have the home you wanted at a reasonable price. Of course the Federal reserve may decide otherwise, but historical it’s been a good plan. Let me know if you would like to purchase or sell and Nashville real estate.

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information on this page is based on information on Nashville real estate per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed. This posting and the contents written here are the intellectual property and opinions of Larry Brewer of Benchmark Realty. Providing real estate services to clients in Nashville, Brentwood, Franklin, Spring Hill, Green Hills, and the middle Tennessee area

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(all data current as of 3/23/2023)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

Top Ten Franklin TN Neighborhoods – 2022 Fourth Quarter

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Franklin TN HomeThe Favorite Franklin neighborhoods based on number of sales the fourth quarter of 2022 are as follows

  • Westhaven with 39 closings – the average price of homes sold was $1,472,619 and averaged $424 per square ft.
  • Waters Edge – 20 closings for the quarter with the average price being $740,669
  • St Marlo – 20 closings at an average price of $1,100,308
  • Fieldstone Farms with 17 closings at an average price of $665,170
  • Highlands @ Ladd Park – 13 closings at an average price of $1,006,277
  • Mckays Mill – 14 closings at an average price of $770,957
  • Lookaway Farms had 10 closings for the quarter with an average price of $2,330,910
  • Terra Vista had 9 closings at an average price of $1,036,764
  • Sullivan Farms had 9 closings at an average of $708,378
  • Daventry had 8 closings at an average price of $1,414,792
  • Southbrooke had 8 closings at an average price of $957,012

Some of the results here are surprising, but the math really tells you where the Franklin real estate market is right now, and the sheer size of Westhaven and the amount of new construction homes in the neighborhood have made it the sales leading in Williamson county for several years now.  If you would like to search for homes in any of these Franklin neighborhoods, just click on the links, or give me a call.

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Franklin TN Real Estate For Sale – December 2022

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Franklin TN real estate for sale –   The number of home closings have dropped by 35% in the last 12 months but prices still remain firm. The good new for buyers is that homes are listed for a longer time before they are sold giving them time to evaluate options before making an offer. 

  • 103 Franklin homes sold during the month of  November 2022 compared to 157 for the same period last year a 35% reduction
  • 368 Franklin homes are currently listing in the Nashville MLS as available for purchase
  • 79 homes are currently under contract
  • the median sales price for homes sold during the month of November was $930,786 compared to $863,050 last year an increase of  7.8%
  • the median price per square foot for homes sold was $310 compared to $273 for November of 2021 an increase of 13.5%
  • the average list price to sales price ratio for homes sold in November was 98%

Search for Franklin TN real estate for sale here – 

Information on this page is based on information on single family homes for sale in Franklin per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed. View the top Franklin neighborhoods here.

This posting and the contents written here are the intellectual property and opinions of Larry Brewer of Benchmark Realty. Providing real estate services to clients in Nashville, Brentwood, Franklin, Spring Hill, Green Hills, and the middle Tennessee area

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See all Real estate matching your search.
(all data current as of 3/23/2023)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

Williamson County TN Real Estate December 2022

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Williamson County Williamson County TN  real estate sales are slowing down but the prices are still firm. The median price of homes sold in Williamson county increased 26% in November of 2022 compared to the same month last year but the number of closings fell 40%. Higher mortgage rates are the primary reason for a slowing market and it’s probably not going to change quickly. However it is a good

  • 265 homes closed in November compared to 437 for the same month in 2021
  • the median price of homes sold was $950,000 compared to $750,000 for the same month last year an increase of 26%
  • 757 Williamson county homes are currently under contract
  • 1236 homes are currently listed as unsold and available for purchase compared to 433 for the same period last year
  • the average days on market for homes sold in November was 25 days
  • The absorption rate of Williamson county homes based on November sales is 4 months

The breakdown of sale by City in Williamson county are as follows

Search for Williamson county TN homes for sale here

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(all data current as of 3/23/2023)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

information on this page is based on real estate information in Williamson county per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed. This posting and the contents written here are the intellectual property and opinions of Larry Brewer of Benchmark Realty, providing real estate services to clients in Nashville, Brentwood, Franklin, Spring Hill, Green Hills, and the middle Tennessee area