Middle Tennessee Real Estate by the Numbers
At Franklin Homes Realty. We believe that all of our clients should have access to the housing market data. Many of our clients ask us to keep them up to date on the properties that are listing, going under contract, and selling in their neighborhoods with our Market Reports.
We know these market reports are a quick and easy way for you to know what is happening in your neighborhoods. But we wanted to go a step further. So many times when we are watching the news, we hear someone reference housing market statistics. These statements may include facts like "Nationally, home sales are up __% !!!" And while national trends play an important role in our market, how can we better understand what is happening in our local market today?
We have looked far and wide on the internet for sites that regularly share housing information about specific areas of Middle Tennessee, and after being disappointed with what other real estate sites have to offer, we decided to share this data ourselves with you! You can feel confident that this data is accurate, because it is straight from Realtracs, the MLS database for Middle Tennessee. Much like other MLS data on our website, this data is updated in real time, so you know that it is reliable.
We have selected a number of counties in Middle Tennessee and a handful of statistics that we think will be helpful for both homebuyers and home sellers. We have access to much more data than we can feasibly share on a single webpage. If you have any questions, please contact us and we will be happy to elaborate on this data. Here are a handful of definitions to help you understand the statistics we've shared below:
- Median Sales Price: Out of all the homes that sell in a particular timeframe, these are the homes in the middle of the pack, in terms of price.
- Days on Market: This is the average days that a listing is in "active" status on the MLS. This doesn't include the days that a property is under contract before it closes. Sharp increases in this statistic may be attributed to a higher volume of new construction listings, where it is not uncommon for those properties to be listed on the MLS for 6 months or more.
- Percent of Original Price: This is the average percent of original list price homes are selling for, which takes into account price reductions.
- New Listings: This is the brand new listings that have hit the market for the past three months. This doesn't include properties that have been re-listed after not selling.