The Franklin real estate market showed some nice gains in June, 2012. Since falling to a 6-month low of 26 in March of this year, June’s total of 42 pending sales marked the 3rd consecutive month that this stat has risen, this time by 7.7 percent versus May’s total of 39. Even better is the fact that compared to last June this is an increase of 10.5 percent. At 39, the average number of pending sales per month, from April through June of this year, remained unchanged versus this same period 1 year ago.
Another area of improvement came in the form of a 13.5-percent increase in sales, as a total 42 closings took place in June compared to a total of 37 just one month prior. Versus last June’s total of 40 this is a 5-percent increase. Also, from April through June of this year an average of 35 closings took place per month, or 2.9 percent more, versus this same quarter 1 year ago.
Sellers experienced less competition as there were 6.1 percent fewer homes on the market in June compared to the previous month. In fact, June’s total of just 186 listings represents a significant 21.2-percent decrease in listings compared to 1 year ago. Not only this, but the average number of homes listed for sale from April through June of this year fell 20.1 percent compared to this same 3-month interval in 2011. Of the 186 homes listed for sale in June, 43 were new listings. This is unchanged versus the previous month’s total, although it is down a significant 20.4 percent compared to 1 year ago. The 12-month average number of new listings is 46.
Other Pertinent Franklin Real Estate Market Stats:
- Franklin home spent an average of just 64 days on the market in June. This fares very favorably versus the average for other nearby Central Indiana markets. It is also a huge improvement compared to last June’s average of 94 days on the market! The 12-month average time on market in Franklin is 88 dyas.
- The absorption rate based on closed sales was 22.6 percent, while the absorption rate based on pending sales was also 22.6 percent.
- There were 4.4 months of inventory based on both closed sales and pending sales.
- The average price per square foot in Franklin was $56. This is unchanged versus June of 2011. The 12-month average price per square foot is $59.
- The average active price was $161,000, while the average ‘sold’ price was $107,000.
- The median price was $108,000.
View other Franklin Real Estate Market Reports.