Franklin Market Update

Franklin·1 min·

Franklin Market Update June 2024 –

Franklin Market UpdateLet’s clear things up if you’re seeing headlines about sellers slashing prices and are worried about what that means for home values. There’s a difference between the asking price and the sold price. While more sellers adjust their asking price, that shows moderating demand—not falling home values. As this graphic shows, actual sold prices are still climbing.

Price Adjustments in Franklin TN

When analyzing recent Franklin TN market data, a few notable patterns emerge:

1. Price Drops:
– Temple Hills home: Listed for $950,000, it went under contract at $875,000 after 69 days.

Price drops typically occur because the home was priced above market value, market saturation, or specific property concerns of potential buyers.

2. Consistent Pricing with Fast Sales:
– Temple Hills home: Sold at the original price of $899,000 after just 7 days.
– Temple Hills home: Sold at the original price of $1,200,000 on the same day it was listed.
– Timberline home: Under contract at the original price of $1,425,000 after just 1 day.

Properties that sell quickly at or near the original price do so because they are accurately priced and in high demand.

Here’s the list price vs sale price for Franklin, Tennessee:

Here’s the Supply and Demand for Franklin:

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