Home sales statistics were compiled for 2010 through 2017 for Franklin, TN. The Median Sale Price, Sales Volume and Median Days on Market were charted to see how these indicators have changed as our local homes values have appreciated year over year. The median price for single family homes in Franklin during 2017 was $496,718. The median sale price has increased 7% since 2016, 11% since 2015 and 21% since 2014!
The total home sales volume in Franklin, TN for 2017 was 2270. The total number of homes sold only increased about 3% from 2016 to 2017. There was a 6% increase from 2015 to 2017. The units sold increased by 15% from 2014 to 2017. It is likely that the limited increase in total sales in the past couple of years was due to low inventory of homes for sale. The demand has been much higher than the quantity of available properties in many price ranges.
The median days on market for single family homes in Franklin has experienced the most drastic change in the past few years. The median days on market was just 9 days in 2017 and 11 days in 2016. By contrast, the median days on market was 33 and 49 in 2012 and 2011 respectively. Homes are selling faster and for a higher price than they have in recent history!
About 37% of Franklin’s home sales in 2017 were either new homes or those built within the last 5 years.
In 2017, the highest month for closings was July with 242 closed homes. The lowest monthly sales occurred in January at 111.
Please call me at 615-260-5858 if you would like more specific data for your neighborhood or area of interest.
9175 Carothers Pkwy. Ste. 110, Franklin, TN 37067
Each Keller Williams Realty office is independently owned and operated
Statistics are based on closed sales of site-built, single family homes as of MLS data on February 28, 2018.