Jul. 18, 2007 - Franklin Towship Home Sales

I have been providing raw data on monthly Franklin Township home sales for a while, now. But what do those numbers really mean?

Reviewing statistics for homes sold over the past several months, you can see that the local selling price has remained at approximately 97% of the listing price.  When examining Days On the Market (DOM) over the last six months, properly priced homes took 75 days to sell in contrast to 40 days in 2005.  I must add that these numbers reflect homes that were priced correctly, from the start. 

The inventory of Franklin Township housing stock on the market for the past six months has fluctuated between a low of 515 to a high of 783.  The month of June 2007 ended with 648 active listings. 

Today's local home values are similar to prices of August 2005 for houses sold. The month of June 2007 ended with an average Franklin Township selling price of $342,128.  The month of August 2005 ended with a average Franklin Township selling price of $343,354.  For long time home owners with plenty of equity, conditions are still ripe to sell your home.   

Much talk has been of a "Buyers' Market".  After a closer look, I would describe current local conditions as not so much a "buyers' market", here in Franklin Township, but one still in transition from a seller's market to a buyers' market.  

In summary, homes that are well priced and show well will find a buyer.  Don't price your home with the expectation of reaping values of 2006. Do listen to the recommendations of your real estate agent to improve how well your home shows to prespective buyers, its pricing and marketing plan.  Failing to heed these suggestions could have your home selling a competitors; when being compared.