Franklin Homes Market Report July 2011 – 154 Franklin homes sold in July with another 125 homes currently pending, not exactly what most home buyers would expect if you had been reading the paper or watching the news.
The fact is that Franklin always seems to have a more robust real estate market than the national or even Nashville market. With 1001 Franklin homes currently available for sale, the current absorption rate is now down to 6 months. Most experts call that a balance real estate market, but as always, there’s more to the story. In the more affordable price ranges of Franklin homes of up to $400,000, the absorption rate is actually down to 4 months, and a lot of the homes listed are not even built yet. What does it mean for buyers? Affordable homes in Franklin are going fast, and you can forget about the builders scaling up to meet demand, it’s not going to happen.
- 154 Franklin homes sold for the month of July
- the average sales price for homes sold was $374,831
- average days on market was 89
- average size of Franklin homes sold in July was 2985
- 125 Franklin homes are currently pending sale
- 1001 Franklin homes are currently listed in the Nashville MLS as available for purchase
- the absorption rate is a little over 6 months based on July sales
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(all data current as of 2/27/2024)
Listing information deemed reliable but not guaranteed. Read full disclaimer.