Franklin is the place to be! Our real estate market is exactly where it’s supposed to be and that’s great news for buyers and sellers!
We are seeing a steady 5% increase in home values over the last year, which is good for sellers. We’re finally out of the housing recession of 10 years ago so things are looking good.
Here are some stats about the Franklin Housing Market:
- Approximately 700 Homes and Properties for Sale
- Average days on the market: 90
- Average homes price: $434,600
- Median List Price: $590,000
- Median Sales Price: $460,000
- Median Rent $2,325
Highest Appreciating Neighborhoods around Franklin are:
- Berrys Chapel
- Forest Home
- Granville Rd.
- Champions Circle
- Bethlehem and Grassland
- City Center
- West Harpeth
- Franklin Oaks
- Crowne Brook Circle
Bingham Parry is the area in Pink and City Center is the area in Blue
City Center and Bingham had the greatest income growth in the last 5 years.
What to do?
If you’re thinking of buying, now is a great time. Rates are still low and they are set to gradually increase this year. Rates are hovering around 4% so it’s still a good idea to buy. Because home prices are not increases rapidly, you have some time before spring, but trust me, when spring hits around here, home prices will go up. There will be more options out there but there will also be more competition. For the best prices and best rates, buy now.
If you’re thinking of selling, you can sell now and get a good profit or you can wait until spring. But with spring comes more homes on the market and more buyers so you might be able to get a little more for your home but you might sit on the market longer. For the best price and usually a quick sale, selling now before spring hits will probably yield the best results.