Since hitting a 15-month high of 291 in August of 2010, the total number of Franklin homes has been on a more or less steady decline. In fact, the most recent total of 211 listings represents a 27.5-percent difference since that time. Compared to August of 2011, it is a decrease of 6.2 percent and a better statistical improvement compared to the nearby Indianapolis real estate market, which lost 3.2 percent of its listings. Compared to last September’s total of 283 it is a 25.4-percent decrease. From July through September of this year there were, on average, a monthly total of 224 homes listed on the Franklin real estate market, 21.7 percent fewer, compared to this same quarter in 2010. This is all good news for anyone trying to sell a home in Franklin.
What isn’t good news, however, is the fact that total sales fell 17.9 percent, from 39 in August to 32 in September. The silver lining of this seemingly dark statistical cloud, however, is the fact that this actually represents a 10.3-percent increase versus where the Franklin market was extactly 1 year ago. Also, there was a huge 53.8-percent rise in the average number of closings that took place per month from July through September of this year—2 out of 3 ain’t bad.
In the category of pending sales, things could have been better. While September’s total of 32 pending sales was down 3 percent versus the previous month, compared to last September’s total of 36 this represents an 11.1-percent drop. However, from July through September of this year there were, on average, a total of 34 pending sales in the pipeline per month compared to this same period 1 year ago, when the per-month average was 31 pending sales.
Other noteworthy Franklin real estate market stats:
- Of the 211 homes listed for sale in September in Franklin Indiana 47 were new listings. The is down only slightly from last September’s total of 53 new listings and down also from the 12-month average of 49 new listings per month.
- Homes in Franklin spent an average of 95 days on the market in September, up just a bit from the previous month’s average of 89 days. The 12-month average time on market in Franklin is 103 days.
- The absorption rate based on closed sales was 15.2 percent, while the absorption rate based on pending sales was also 15.2 percent.
- The median price was $123,000.