What's My Franklin TN Home Worth?: What's My Franklin TN Luxury Home Worth? August 2014

What's My Franklin TN Luxury Home Worth? August 2014

What's My Franklin TN Luxury Home Worth? August 2014

  • What's My Franklin TN Luxury Home Worth? August 2014Properties 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.

What's My Franklin TN Luxury Home Worth? August 2014

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.

Tammie White, Managing Broker/Owner
CLHMS, CRS, GRI, SFR
Franklin Homes Realty LLC
Franklin, TN
(615) 495-0752 
GET REAL. GET LOCAL.
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Franklin Homes Realty LLC. Any party who uses this material without the written permission of Tammie White is subject to copyright infringement and possible lawsuit.
Comment balloon 6 commentsTammie White, Broker • September 09 2014 11:17AM

Comments

Hi Tammie - Great market report for luxury homes. The performance of this segment in Franklin mirrors quite closely what is happening here - there just aren't enough buyers right now for the inventory that's out there. And you're right - pricing to sell is the best strategy for these conditions.

Posted by Dick Greenberg, Northern Colorado Residential Real Estate (New Paradigm Partners LLC) about 4 years ago

Tammy, that's a great market report, you must have a small inventory to only have 5 sales for the month of August.

Posted by Sybil Campbell, REALTOR® ABR, SFR, SRES Williamsburg, Virginia (Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia) about 4 years ago

Hi Tammie, I was impressed with that least expensive home sitting on 35 acres that sold for less than a million. I think that was a real bargain for the money. Excellent and Detailed Luxury Home Report of Franklin, TN.

Posted by Jerry Newman, Texas REALTOR, San Antonio Military Relocation (Brown Realty, 210-789-4216,www.JeremiahNewman.com) about 4 years ago

Dick - That's the key to getting a Franklin TN luxury home sold.

Sybil - Actually there are 105 active luxury home listings.

Jerry - It was but rural land usually sells for less than some of the luxury home developments.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) about 4 years ago

Hi Tammie -- I like how you explain the dynamics of an extreme buyers market for luxury homes in Franklin.  Even in a market that favors buyers, savvy sellers can still succeed if they are well-prepared and utilize the expertise of a local Realtor.  In Franklin TN -- you certainly meet those rigorous qualifications.

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) about 4 years ago

Hi Tammie - This is an excellent  market report!

Posted by Dan Edwards 425-276-7008 (Keller Williams Realty - Bellevue) about 4 years ago

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