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Franklin, MA Home Prices Down Through July 2015

Sep 28, 2015 8:12:35 AM

Through the first seven months of 2015, the median price of a single-family home in Franklin, Massachusetts declined 4.6 percent to $404,500 compared to $424,000 during the same time frame in 2014, according to the Massachusetts Association of Realtors. 

Franklin, MA real estate market report for July 2015In July the median home price was $433,500, a 3.2 percent increase from $420,000 in July 2014. On average homebuyers paid 98.8 percent of the original list price in July and 98.2 percent through July.

Single-family home sales declined from 47 in July 2014 to 43 homes sold this past July. Pending sales – home under agreement that have yet to close – increased from to 41 in July from 36 in July 2014. From January through July home sales increased to 148 compared to 145 during the same seven-month period in 2014. Pending sales through July declined by one to 182 pending house sales. 

The number of single-family homes on the Franklin real estate market declined 6.7 percent in July to 70 from 75 in July 2014. The months supply of inventory in July declined from 3.4 months last year to 3.3 months. New listings in July declined 20 percent to 36 compared with 45 new listings in July 2014.

In July condominium sales in Franklin were flat, with 15 units sold in July 2014 and this past July. Pending sales and median condo price in July were both flat. Pending condo sales increased by one to 11, and the median condo price decreased just 0.2 percent to $251,000.  Homebuyers paid on average 97.1 percent of the original list price in July. 

Through July condominium sales declined 33.7 percent to 59 from 89 units sold during the January-through-July period last year. Pending sales through July decreased from 97 last year to 69 pending sales. The median price of a Franklin condominium through July increased 4.9 percent to $254,900 compared with $243,000. On average homebuyers paid 97.2 percent of the original list price through July. 

The number of condominiums for sale in July declined by three to 27. The months supply of inventory increased from 2.7 months to 2.8 months. New listings increased 36.4 percent to 15 compared to 11 new condos listed in July 2014.

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Topics: Real Estate Market, Community Information, Massachusetts Home Prices, Franklin MA

    

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