What's My Franklin TN Luxury Home Worth? August 2014
- Properties currently Active on the market: 105
- Single-family properties closed in August: 5
- Average sales price: $1,193,081
- Average list price: $1,276,281
- Average sales price to list price ratio: 93.5%
- Average days on the market: 90
- Active listings under contract: 9
- Percentage of active under contract: 9%
- Franklin TN Luxury Homes absorption rate: 21 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)
At this rate, Franklin TN luxury homes are going to take a long time to sell. This segment of the market is in an extreme buyer's market with 21 months of inventory. If the sales continue at this pace and no new inventory comes on the market, this is how long it will take to deplete the current housing inventory.
One of two things has to happen:
1. Sellers need to price their homes better when they first come on the market.
2. Sellers need to wait until the market improves to sell their Franklin TN luxury home.
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. You will often see homes constantly re-listed at this price point. It's best just to price them right from the beginning.
The least expensive Franklin TN luxury home sold was 5,351 square feet built in 1995 and on 35 acres. It sold for $950,000. It was listed for $1,150,000. The most expensive sale was 12,076 square feet on two acres in Brandon Park Downs and sold for $1.6M. It was originally listed for $1,699,000.
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.
Curious what this type of marketing looks like? Just click the link for an example of a post I wrote about a luxury home, Simply Charming Country Home in Leiper's Fork. This home is no longer available but this is the the type of internet marketing that can set your home apart from all the others.
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.
Wondering if this type of marketing sells homes, we can assure you it does. Buyers located all over the country are contacting us everyday looking for the right luxury home. With so many options to choose from, you want your Franklin TN luxury home to stand out.
Visit our website, www.FranklinTNHomesforSaleOnline.com. It's easy to see why our site 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 of Franklin Homes Realty LLC at (615) 495-0752.