What's My Franklin TN Luxury Home Worth? June 2014
- Properties currently Active on the market: 104
- Single-family properties closed in June: 12
- Average sales price: $1,395,209
- Average list price: $1,481,422
- Average sales price to list price ratio: 94.2%
- Average days on the market: 118
- Franklin TN Luxury Homes absorption rate: 8.7 months of inventory (a normal or steady market would be 5-7 months, a buyer's market would be in excess of 7 months, and a seller's market would be less than 5 months)
Franklin TN Luxury homes market report for June 2014 reflects a buyer's market. Although, luxury homeowners are still in a buyer's market, 12 closed sales was twice the number of closings in May. We also saw an increase in the average sales price to list price ratio to 94.2% of list. While this is good news for Franklin TN luxury home sales, sellers should expect to sit on the market for awhile due to the reduced number of buyers at this price point.
Wondering what your Franklin TN luxury home is worth? Click the photo below to be taken to an instant property valuation report.
For those who want to see their Franklin TN luxury home sell quickly, pricing it right when it first comes on the market is crucial. One of the closed sales in June was a home that had been previously listed twice before. Both times the price was too high. When it finally came back on the market at a reasonable price then it sold in 66 days for 96.4% of list. Higher than the Franklin average sales price to list price ratio.
The least expensive Franklin TN luxury home sold was 6,483 square feet and sold for $900,900 in Laurelbrooke. It was listed for $1.13M The most expensive sale was 6,842 square feet on 11 acres in rural Franklin for $1.8M. It was originally listed for $2M.
Marketing your luxury home to buyers across the country will be an important part of achieving success in selling your Franklin TN luxury home. With 92% of buyers beginning their home search on the internet, you need your home to have the best coverage possible. This goes far beyond just syndicating your home to other websites.
At Franklin Homes Realty LLC, we use the latest technology so your home is seen by a large pool of buyers, including buyers outside our local market. We do this through the use of social media and blogging. Something you rarely find in the Franklin luxury housing market.
We have also made it extremely easy for Franklin TN luxury home buyers to find your home on our Luxury Homes webpage. It's easy to see why our website gets thousands of clicks each month. This provides your listing with exposure to home buyers all over the country.
When you are ready to sell your Franklin TN luxury home, contact Tammie White at (615) 495-0752.