Real Estate Statistics in Franklin, TN May 2013
The real estate market has been very busy this spring. The market rebound began last November and has continued to be strong through the spring. Single family home sales volume was up 21% from 2012! The condo market was actually down a bit. And I can see that reflected in my listing inventory. The houses have been selling faster than the condos. In Franklin we are seeing many houses selling with multiple offers in the price ranges up to about $400,000. The inventory has been down and houses have had several possible buyers. New construction has been booming as well. Buyers, unable to find resales they like, opt for a new house that might be slightly off their ideal – either in price or location – but provide a desirable alternative to the lack of resales. I have personally observed the prices increasing too. Sellers are pushing the market to see where it will go. And it appears to me that the market is beginning to push back. That pricing might be stabilizing a bit. I will continue to watch through the summer and see what pricing does. East Nashville has also been a highly desirable area with a lack of inventory and multiple offers.
Here is the data from the Williamson County Association of Realtor – May 2013 Statistics.