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Franklin TN Real Estate Statistics - Market Report Fourth Quarter 2008 and Three Year Comparison

Franklin Market StatsFranklin TN (Williamson County) Single Family Home Sales Statistics based on MLS data for October through December.

FRANKLIN 2007 2008
Average Square Footage 3,158 2,960
Average List Price $481,258 $445,135
Average Sale Price $473,937 $429,759
Average Days on Market 64 85
Total Closings 344 223
Sale Price per Square Foot $143.69 $148.64
Sale Price to List Price Ratio 98.5% 96.5%
Total Expired Listings 222 289
Total Withdrawn Listings 311 319

Even though the market is down in the Greater Nashville area, our property values have only dropped slightly since the market shift in mid-2007.  If buyers expect to come in and secure a contract on a home by offering 20% below the asking price, it's not likely to happen!  The ratio of sale price to list price in Franklin was 96.5% during the last quarter of 2008.  This is based on the 223 homes that actually SOLD and CLOSED.  It does not include the 608 listings that expired or were withdrawn during the same time period.  Home sales were down 35% the last quarter of 2008 compared with 2007.

Below is a look at how our Franklin real estate market has changed over the past few years.  We shifted from a sellers market to a buyers market rather abruptly in approximately July/August 2007.  Activity dropped sharply over the matter of just 3 weeks.  Chances are that the next market shift will also happen very quickly.  

 Franklin TN market report

Franklin TN Average Sale Price per month 2006, 2007 & 2008 for single family homes

Franklin Market Stats

Franklin TN Average Sale Price per Square Foot monthly for 2006, 2007 & 2008 based on single family home sales

Franklin TN market report

Franklin TN Average Days on Market for 2006, 2007 & 2008 

Historic Downtown Franklin, TN

Spring Hill TN real estateCall Tiffany White with Keller Williams Realty at 615-260-5858 or visit www.TiffanyWhite.com for more information about buying or selling a home in Franklin, Tennessee.

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Comment balloon 1 commentTiffany White • January 21 2009 02:57PM
Franklin TN Real Estate Statistics - Market Report Fourth Quarter…
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Franklin TN (Williamson County) Single Family Home Sales Statistics based on MLS data for October through December. FRANKLIN 2007 2008 Average Square Footage 3, 158 2, 960 … more