Home Prices Franklin MA February 2014
Real estate market data for Franklin, MA provided by
Carol -Ann Palmieri, Remax Executive Realty
Franklin Home Prices
If you are wondering what is happening in the Franklin MA real estate market, a quick glance at the graph below paints the picture. Homes are moving quickly. Inventory is low. It's good news for homeowners with an average 4.4 percent rise in home values since last year. Predictions are that the trend will continue, but at a lower rate.
Single Family Inventory:
If you are interested in seeing exactly what the current inventory looks like in Franklin MA, you can find that by just clicking this link. Current inventory in Franklin, MA
There are currently 11 properties on the market priced below $300,000. The average price per square foot is $204. You can expect about 1260 square feet of living space.
$300,000 and $500,000. As of right now, there are 12 homes available in this range. The average price per square foot is $197. Expect to find Cape and Colonial style homes and new construction is even an option.
There are 9 listings priced between $500,000 and $750,000. Average price per square foot is $195. Expect to find resale and new construction in this range.
There are 8 listings over $750,000. The average price per square foot is $240. Expect new construction and custom resale homes.
Franklin Real Estate Report Summary:
With 32 homes pending or contingent and a limited amount of inventory, I would consider Franklin a hot market leaning towards a sellers favor. Buyers looking to purchase here can find a nice balance of resale homes and new construction. There are just two lender involved properties on the market. Competitively priced homes do not stay on the market long. I expect that as the weather improves, the housing market will follow suit. (This reporting is relative to the single family home market, but condo and multi family homes in this community are hot as well.)
Buyers continue to find Franklin very desirable. Why not? With a recent news report suggesting that Franklin is the nation's safest city, who wouldn't consider the community to be their families home base?
If you are considering buying a home in Franklin, MA, don't sit on the sidelines for too long. Start actively looking now. The "spring market" has already commenced and is just going to get more competitive.
If you are a seller, pricing your home in line with comparable home sales will bring you an offer close to asking in a short amount of time.
Find Homes for Sale in Franklin, MA:Visit my website to search for homes in Franklin MA or to be notified when Franklin homes come on the market.
To find out what your home is worth in the current market email me email@example.com or call 508-494-9061.
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