Menu 

Franklin Real Estate Spends 38 Percent Less Time on Market in May, 2012

May, 2012 brought with it some positive news for the Franklin real estate market, although not as much of some would have preferred. Take, for example, the 35 closings that took place: This represents a dramatic 40-perent increase versus the previous month. But considering the fact that April’s total of 25 closings was the 3rd lowest in a year, anything other than a big rebound would have been very disappointing indeed. Another sobering fact: the most recent figure represents a decrease of nearly 3 percent compared to last May’s total of 36. Still, this is a difference of just 1 closing. Something else that stood out, in a good way, was the fact that there were, on average, 32 closings per month from March through May of this year, or 23.1 percent more, compared to this same quarter last year.

The news was not nearly as good when it came to pending sales. While May’s total of 37 pending sales was unchanged versus the previous month, it was down 9.8 percent versus 12 months ago. Also, there were, on average, 33 pending sales logged each month from March through May of this year, making for an 8.3-percent decrease in comparison to this same period 1 year ago.

After climbing for 3 consecutive months and reaching a 6-month high of 201 in April, the number of Franklin homes on the market in May fell 1.5 percent to a total of 198. This is a far more significant 18.5-percent decrease compared to last May’s total of 243 listings, which is most definitely a good thing for the Franklin market. Another good thing: The average number homes listed for sale each month, from March through May of this year fell 19.6 percent compared to this same period in 2011, or 197 versus 245 respectively.

View the complete, original article here.