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                    [post_content] => Franklin, Massachusetts is a hot town this May . . . and we’re not talking about the weather! The real estate market in this prime I495 community is sizzling. Franklin home prices are rising and it’s getting to the point that many properties for sale in town go under agreement almost as soon as showings begin.

Shortage of homes for sale

Demand has outpaced supply in Franklin, Mass since the year began. This trend has continued to such a degree in Franklin that housing inventory levels are stuck at extreme lows even at the peak of the spring home selling season.



There currently is only about a 3 month supply of homes for sale in Franklin, Massachusetts. That compares to over 7 months of supply this time last year and over 11 months' worth of homes on the market back in May of both 2011 and 2009.  You'd have to go back to the boom years of 2002 - 2004 to find such tight market conditions in town.

Strong seller's market in Franklin

Today's 3 month supply of homes in Franklin, MA puts this highly desirable community at the forefront of hot real estate towns along the I495 corridor.



While low inventory rules the Franklin real estate market, conditions are not as tight in the regional market surrounding Franklin and indeed for most of the Bay State as a whole.  In both those broader markets, there's about a 6 month supply of homes.  Certainly there are other communities in the Greater Boston area where supplies are as low (or even lower) than they are Franklin, but you would be hard pressed to find a town in the I495 loop with a lower inventory of available homes than in Franklin, MA.

Why are homes in Franklin in such great demand?

Here’s why so many people want to live in Franklin, Massachusetts: Franklin offers attractive home prices with many young subdivisions of colonial homes, a prime location on I495 equidistant from Boston, Worcester and Providence, great childcare services, superb public schools, superior recreational resources (including a YMCA and other tennis and swimming clubs), a vibrant arts community, lot of fun fairs and community activities, and plentiful nearby shopping.  In essence, Franklin is a wonderful place to live and raise a family!

Copyright ©2013 02038.com

 
                    [post_title] => It’s getting hot in Franklin, MA 
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                    [post_content] => 40 Pine Street in Franklin, MA is a sunny, updated ranch in pretty country road location in north Franklin across from neighborhood of quality homes.

Video gallery of this home

Here's a set of videos that demonstrate how special this ranch home is:

[tubepress mode="playlist" playlistValue = " PL6Q6iWw-2Q55T7pbAcDOtTpd9xSQyBCx4"]

Modern kitchen and baths

Bright, welcoming Corian kitchen with tile splashback, cooktop, wall oven, microwave and glass-front cabinets opens to large eat-in area and adjoins sunny sitting room with slider to private deck - great layout for barbeques, morning coffee and evening relaxation! 2 full baths have been recently updated.

Beautiful hardwood floors

Formal living room with wood stove, striking hardwood floor and pretty replacement picture window. All 3 bedrooms boast hardwood floors. Exercise rm/home office in walk-out lower level with full bath and workshop area offers plenty of storage. Sunny level rear yard with shed. Great spot for garden, pool! CENTRAL AIR, replacement windows, newer heat, town sewer. Convenience of attached garage.

Make your appointment to view this special home today!
                    [post_title] => 40 Pine Street Franklin MA
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                    [post_content] => The median sales price of single family homes in Franklin, MA rose sharply to $410,000 in the first quarter just ended.  That’s an impressive 16.8% increase over 2012’s first quarter median price of $351,000 and an eye popping 26.4% ahead of where Franklin’s median price was this time two years ago.



Low supply fuels price rise

The supply of homes for sale in Franklin has been extremely curtailed throughout 2013; Here’s how the supply of homes for sale in Franklin, MA looked during February 2013 compared to prior years:



The chart also shows just how depleted home inventories were in the greater Franklin market as well across the Bay State last February.

The dearth of available homes in Franklin continued into March and was further reinforced by a notable strengthening of demand for local homes as the spring selling market kicked into gear.  Newly-confident home buyers flooded the greater Franklin market, spurred by the growing regional economy, phenomenally low mortgage interest rates and the realization that the bottom of the market is well behind us.

From a seller’s point of view, it has become a virtuous cycle of low home inventory fueling price increases which engender more buying which in turn drives the supply of available homes even lower.

Past rebound phony


A look at the first quarter median sales prices statewide since 2009 shows that we went through a prior updraft in home prices back in 2010:



Home prices rose in 2010 due to the artificial stimulus supplied to the real estate market by the Federal home buyer tax credits.  Once those programs ended in April 2010, MA home prices wilted.

The seasonally adjusted Case Shiller Home Price Index for Boston clearly shows how Greater Boston home prices began their retreat in 2010 almost as soon as the Federal tax credit programs ended:



Price rise real this time

This time the price rebound seems firmly based on the real footings of a strengthening MA economy and renewed consumer confidence.  There is no Federal program inflating home values this time.  Yes, interest rates are being kept low by the Federal Reserve.  But rates have been low for years.  It was not until the MA economy strongly improved in 2012 that the MA real estate market began to revive.

Looking forward, the higher home prices go, the more homeowners will have positive equity.  This should bring more homes onto the market, easing the frustration felt by prospective home buyers today.

It is so encouraging to see the improving real estate market,  coming as it does after so many years of difficult times.  2013 looks to be a superb time to sell a home!  If you are thinking of selling your home, please contact me today for a free, no obligation Home Value Analysis!

Copyright ©2013 02038.com
                    [post_title] => Franklin MA homes prices surge 16.8 percent
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                    [post_content] => As we approach March and the start of the prime spring home selling season, the supply of available colonial homes for sale in Franklin, MA is nearly depleted. It has been DECADES since there have been so few colonials for sale in Franklin this time of year! With many regions of the US already seeing double digit gains in home sale prices, can a home price spike in this desirable community in the I-495 region of Massachusetts be far behind?

Few colonial homes for sale in Franklin

2012 saw a huge increase in home sales volume in Massachusetts.  The sales pace has kept up so far in 2013. There’s a general shortage of single family homes for sale throughout the I-495 high tech corridor and indeed across most of Massachusetts. But for colonial homes in Franklin, MA  supplies of available homes are extraordinarily - even historically - tight.



As shown in the image above, there were only 32 colonial homes for sale in Franklin in late February.  This compares to 54 Franklin colonials for sale this time last February, 73 colonials in late February 2011 and 75 colonials back in February 2010.

I went all the way back to the mid-1990s when Franklin was undergoing a home building boon and there were 100s of colonials for sale in Franklin  - since then, straight to today, NEVER have there been so few colonial homes for sale in Franklin on the MLS at this time of year just before the start of the spring market!

Tight inventory of colonials expressed as months of supply

Here's how the inventory of colonial homes in Franklin looks as expressed as months-worth of supply:



What this means is that at the current rate of colonial home sales in Franklin, it would take only 2.7 months to sell all the colonial homes currently available in town.  This is a very low inventory of colonials and compares to  5.2 months of supply of Franklin colonials in February 2012 and 8.7 months in February two years ago.

Tight inventories lead to home price increases elsewhere in US

An article in the current edition of BusinessWeek details recent large gains in home prices ongoing in many areas of the US.



The article says metro-Phoenix is experiencing near boom conditions with a 22.9 percent increase in metro-Phoenix home prices in calendar year 2012 according to figures provided to BusinessWeek by the research firm CoreLogic.

Here’s how home values* are faring in select regions of the country according to BusinessWeek:



(*Note the percent gain for Phoenix in the graphic above is larger than the CoreLogic figure because it reflects 4th quarter 2012 median prices compared to the 4th quarter of 2011 rather than the price change for the full calendar year just ended as calculated by CoreLogic.)

The three factors contributing to the recent US home price gains cited by BusinessWeek are low mortgage rates, low inventories of homes for sale and a recovering local economy.  Sounds like conditions in Franklin, MA, doesn’t it?  It would seem Franklin is ripe for some price appreciation!

Colonial home owners in Franklin have an opportunity

Because the supply of colonials for sale in Franklin is currently so exceptionally low, Franklin colonial home sellers right now face very little competition – that’s great news for sellers!  If you live in Franklin and own a colonial,  Spring 2013 looks to be an  unparalleled opportunity to sell your home with pricing power.  So if you’ve been thinking of selling, now is the time to spring into action!  Explore your options - get the facts - contact Warren for a free, no-obligation Home Value Analysis!  Ask for one today!

Copyright ©2013 02038.com
                    [post_title] => Fewest colonials for sale in Franklin, MA in decades
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                    [post_content] => The supply of single family homes for sale in Massachusetts hit 8 year lows in February, according to data maintained by MLSPIN, the largest MLS serving the Bay State.  The dearth of available homes today rivals the tight supplies last seen in the Commonwealth near the peak of the market boom back in February 2005.  The current low inventory of homes for sale comes amid an increase in buyers entering the market as we head towards March and the start of the hyper-active spring home selling season. The imbalance between supply (low) and demand (high) may begin to put upwards pressure on area home prices this spring.  Add to this volatile mix the high octane fuel of today’s historically low mortgage interest rates and we may witness in 2013 a sudden ignition of MA home values.

21.6% fewer homes for sale

At mid-month this February, there are roughly 15,600 active single family home listings on MLSPIN, a 21.6% decline from the approximately 19,900 listings active on MLSPIN this time one year ago.



The number of single family homes in Massachusetts currently available on MLSPIN is an astounding 36.8% less than the roughly 24,800 homes for back in February 2008. As confirmed in an article posted by the Boston Herald, the current low inventory of single family homes for sale is especially acute in Boston and extends to most communities in the Rte 128 and I-495 region of the Bay State:

“The trend of low home inventories continues into 2013, as prospective buyers had 23 percent fewer homes to choose from this week statewide, compared to a year ago, according to data from the MLS Property Information Network.

In Boston alone, the number of units currently for sale is down a staggering 45 percent compared to last year.”

Absorption rate analysis  

Absorption rate analysis is a tool commonly used by real estate brokers and investors looking to get insight into the future direction of home values in a given real estate market.

A variety of absorption rate formulas exist. All methods estimate the current state of the market by determining how long it would take to sell (or “absorb”) all properties currently for sale in a select geographic area.

Most calculations produce a “months’ worth” of housing inventory and this figure is often compared to supply levels in earlier time periods.  The comparison gives you a good reading of whether the local market is likely headed up or down in coming months.

Here’s how an absorption rate analysis depicts the current amount of housing supply in Massachusetts, the I-495 region around the Town of Franklin, MA and in Franklin itself:



As you can see above, the supply of homes for sale in all three market areas is very low. There is only a 4.6 month supply of single family homes for sale across the Commonwealth this February.  This is down sharply from the 7 month supply of homes available last year at this time.

Conditions in the Town of Franklin, MA and nearby communities are even tighter.  There currently is only a 4.3 month supply of homes in the Franklin regional market and an exceedingly low 3.2 months of inventory in the Town of Franklin itself.

This shortage of available housing as the spring 2013 home selling season approaches is making for some frustrated home buyers.  Reports of bidding wars are common.  There’s so little for sale that most properly-priced homes in Franklin sell very quickly!

In past real estate market cycles, such tight conditions typically led to upwards pressure on home values.  Home prices are rising in other areas of the country, but there have been no dramatic price moves yet in Massachusetts.

It will be very interesting to see how the market evolves in 2013.  I will keep a close eye on prices for you!

Copyright ©2013 02038.com

 

 

 
                    [post_title] => Listing shortage may trigger MA home price surge as spring market nears
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                    [post_content] => November home sales in Massachusetts rocketed 30% over year ago levels, marking the best November for real estate sales in Mass since 2004.  A total of 3681 single family houses changed hands last month on MLSPIN, the largest MLS in the Bay State.  This was an astounding 45.5% higher than closed transactions on MLSPIN back in November 2010.

Very good news for home sellers



The strong showing for home sales last month further extends the recovery in MA home sale volume that took hold at the start of the year.  At 39,099 houses sold so far in 2012, year to date single family home sales in Massachusetts are a gaudy 21.5% ahead of where they were this time last year.



The fact that November’s 30% increase in sales was above the year-to-date’s overall gain is a sign that market momentum is building at year’s end. This, plus the fact that Massachusetts home prices are trending higher, bodes well for the Mass real estate market at the start of 2013

Pending sales up too

In another good sign for housing in the Bay State, MLSPIN pending sales (under contract but not yet closed) were also up statewide in November.  Pendings rose 17.5% over November 2011.

Mixed month for Franklin

Small samples generally make for unreliable statistics.  That was the case for home sale stats in the Town of Franklin, MA last month.



Only 13 single family homes changed hands in Franklin, as recorded on MLSPIN.  This was a decline from November 2011.

On the other hand, pending sales in Franklin were way up, confirming that the local market remains active.

Even better results in 2013?

Home sales have been strong in Massachusetts throughout 2012.  The superb results for November 2012 home sales may indicate that 2013 will see a further strengthening in the Mass real estate market.

Copyright 02038.com
                    [post_title] => Best November for MA home sales since 2004
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                    [post_content] => I recently listed and sold a condo at Highwood in Franklin, MA. The sellers took the time to write a letter of recommendation on my behalf.  They were very generous in their comments about my services as a listing agent; so much so, I share the entire review with you below.

"The best real estate agent we have ever encountered"



Warren can help you too

That's quite some recommendation!  You can learn more about me here.

If you are thinking of selling your home in Franklin, please contact me.  I will do my utmost to serve you well and get your home sold quickly for the best price possible!

Copyright ©2012 02038.com

 
                    [post_title] => High praise for Warren Reynolds from Highwood sellers
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                    [post_content] => If you’re thinking of selling your home or investment property in Massachusetts, you may be pleasantly surprised at how quickly some real estate is selling in Massachusetts.  For the first time in years, homes for sale are flying off the shelves in 2012. The caveat is proper pricing: the MA homes that are selling are priced to market.  If you set too high an asking price, your home will likely sit unsold for months, despite the stronger market conditions in Massachusetts.

Offer accepted in less than one week



To see how the stronger real estate market is helping MA home sellers, take a look at how quickly Warren’s listing at 11 St Lawrence Way in North Attleboro found a buyer.

11 St. Lawrence Way listed on MLSPIN (the regional MLS in Massachusetts) for $549,900 on Wednesday, June 13, 2012.  An open house that Sunday was mobbed by buyers. The winning offer was submitted on the following Tuesday.  Success!



Priced properly

The owners of 11 St. Lawrence Way listened to Warren’s advice on pricing their property and set an asking price that was to market.  Having the right asking price meant that buyers responded well to the home as soon as marketing commenced.



They resisted the temptation to get overly aggressive with their asking price because of all the recent buyer activity.

They did follow Warren’s suggestion to set the price higher than indicated by recent sales, so they did get more for the home than they would have gotten prior to the recent strengthening of the MA real estate market.

Fixed flaws

Before putting the home on the market, the owners of St. Lawrence took quite some time fixing cosmetic flaws with the property.



They used repair people suggested by Warren to get the home looking great before it was exposed to buyers.  This took time and effort but paid great dividends during the marketing phase and also during the subsequent home inspection.

Inspected septic system early

Another smart step taken by these home sellers was to get their septic system inspected early in the process of getting the home ready for sale.



Some home sellers with septic systems make the mistake of waiting to do the Title 5 inspection until after they find a buyer.  Such delay creates the chance of lingering uncertainty in the minds of the buyers and the risk of deal fall-through if problems with the system are discovered.

Get your system inspected early so your buyers know the system has passed - it makes it so much easier  for them to emotionally commit to buying the home!

 More seller advice

Click the hotlinks to get more advice for home sellers and to get a no cost, no obligation price evaluation of your home or investment property.

Copyright ©2012 02038.com
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                    [post_content] => There’s an undeniable truth about residential real estate: it’s challenging to accurately determine the right asking price for a home!  While every year tens of thousands of houses, condos and multifamily properties successfully sell on MLSPIN, the main MLS serving Massachusetts, there are also tens of thousands of listings each year that fail to sell and go off the MLS (expire).



Over-pricing causes many expired listings

Look at the chart above to see how many expired home listings there are on the MLS year after year. That's a lot of homes that get rejected by buyers!



The common problem uniting the vast majority of expired listings is over-pricing.  The sellers simply ask too much money for their homes.

Many expired homes relist and do eventually find buyers – but often at much lower prices than the sellers originally asked.

Why it’s easy to get the home value wrong

One big reason behind over-pricing is that there are a lot of emotions at play when you sell your home.

The financial stakes are high.



And since your home may have been your pride and joy for years and it's where you live, it’s hard to look dispassionately at the property.



Many owners just don’t see their home as the market will in terms of structural condition and cosmetic shape. They overlook flaws that detract from value and overly value features and amenities that don’t contribute much to what the home is really worth.

Are instant home evaluation websites the solution?


How about taking the owner out of the equation and using a website to put a value on your home?



It's a  beguiling idea.  These sites will feed recent homes sales and assessor data into mathematical algorithms to determine the most likely selling price for your home.



No emotions involved and you get to sit back and let the website do the work for you!

Home value websites put to the test

I tested three well known instant valuation sites to see how accurate they are (one site was Zillow.com).

I used the address of a home located in a popular I-495 Massachusetts town that sold for $527,500 several months ago.



(I know the house very well; it is a very nicely upgraded 20 year old colonial in a prime subdivision of about 60 homes.  The interior had been completely renovated by the seller.   The improvements substantially raised this home’s market value above what would be dictated just by its square foot living area and location – a tough test for an automatic on-line home valuation website.)

The instant on-line value estimates for this house that recently sold for $527,500 came back as shown below.

♦ First site: $418,000 to $576,000 as a value range, with $460,000 as a predicted selling price.

♦ Second site: $464,400 to $513,200 as a value range, with $488,000 as the predicted selling price.

♦ Third site: $715,672 - $840,136 as a value range, with no selling price point given.

All three websites produced very wide value ranges that did little to pin down the market value of the home.

The first two websites’ predicted selling prices significantly undervalued the home. The third site failed to suggest a selling price and the price range it produced so grossly overvalued the property as to be useless.

None of the three services came close to the real market value of the home, based on the recent actual selling price of $527,500.

Why instant home value websites can be wrong on price


From a purely practical point of view, we’re not dealing with pricing mass-produced consumer products that are roughly identical, such as automobiles.



Unlike cars and other consumer goods, each home presents a unique mix of location, features, and degree of upkeep and renovation that pose a serious challenge to any algorithm used to derive a probable selling price.

My test which demonstrated the failure of the three websites to price accurately may be an extreme example since it used a difficult home to price given its top to bottom renovation.

So for a more typical home in a large condo complex or in a major subdivision where the homes are mostly alike, an on-line evaluation website should be able to give you a good enough estimate to at least serve as a starting point in your quest for the true market value of your home.

Just don’t give any website your name, email address and contact information – you’re likely to be sold by the website as a “lead” to a hungry real estate agent or mortgage broker.

Inside knowledge

The inability of the three websites to properly price the test home illustrates the most salient point about pricing residential real estate: to make the best value estimate, you need to personally know the local market.   And those who really know the market develop that knowledge over time by physically getting inside area homes being bought and sold on an ongoing basis.



When you have that “inside knowledge” of the homes that have sold (and have failed to sell) in the local market you will have the necessary context with which to price homes properly.  There is simply no substitute for physically visiting homes, year in and year out, as they are put up for sale . . . and that is what Realtors® do for a living.

How Realtors® produce value estimates

To get the most reliable estimate of the market value of your property you as a home owner need to use the services of a good Realtor® .

You can gain insight into how Realtors® analyze the market value of a home by clicking on the hotlink or on the image below.  The link opens a .pdf of a home value analysis form published by a major US financial institution.



Analyze both the home being sold and the comps

See how the form carefully reviews the physical condition of the home being evaluated. The form asks the Realtor® to list any repairs that are likely to increase the home’s value in a cost effective way.  This determination requires in-depth market knowledge and long experience in the field.

The form also looks in great detail at the “comps”: the homes currently for sale and recently sold that together form the basis for the value estimate.  In all cases, the form assumes that the Realtor® has visited the homes.  It's the Realtor's® working knowledge of the interiors of the properties used on the analysis form that enables him to make an accurate value estimate.

Ready to discover the true value of your home?

Click the hotlink to receive my exclusive Home Value Report . . . it's free, no cost, no obligation.

I'll use state-of-the-art technology to custom-prepare your Report.  I'll carefully tour your home and draw upon my many years in the field to produce a highly reliable value estimate for your property.

Ask for your Home Value Report today!

Copyright ©2011 02038.com
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                    [post_content] => Most home sellers want to know what transaction costs they’ll encounter with the sale of their home.  It makes sense to know ahead of time how much it costs to sell your home in Massachusetts!

Some home selling expenses shouldn’t come as much of a shock.  For example, your lender expects you to pay off the mortgage at closing.

Other home selling costs in Massachusetts are less well-known and could be surprising.  One home selling expense that many home sellers are unaware of is the Massachusetts deed excise tax.



Avoid surprises at closing

To help you make informed decisions about selling your real estate, here’s a quick rundown of the typical costs and fees encountered by MA home sellers:

♦ Mortgage and other liens

You have to convey clear title to your buyer.  All liens on the property being sold must be released before or at closing. This means these secured debts must be paid before any home sale proceeds checks are cut to you.  Outstanding charges that could result in liens on the property must also be paid at closing, such as pending water and sewer charges, condo fees, and utility bills.



So tally up all these obligations and understand that they must be paid off as part of your home sale.  If you owe more on a property than it is worth (and quite a number of home owners are in this situation), you may have to resort to a “short sale”.

♦ MA deed excise tax

There is a tax assessed on most transfers of real property in Massachusetts.  In the majority of counties in the Bay State, the amount of the tax due is calculated at the rate of $4.56 of tax per every thousand dollars paid for the property.  (In other words, every $100,000 of value paid for the property results in $456 in seller tax liability.)



Some counties have a higher deed excise tax rate (Barnstable County’s tax is $5.70 per thousand) or have adopted “land bank” fees (Nantucket and Dukes Counties have a 2% land bank charge).

♦ Broker fee

According to the National Association of Realtors®, 90% of all home sales in the US in 2010 were consummated with the help of a real estate agent.



There are no set commission rates in the real estate brokerage industry.  The charges you and your agent agree to for brokerage services are typically paid no later than the closing.

♦ Legal fee

It’s a good idea to retain legal counsel to help you with the sale of your real estate.



The bank’s attorney who will handle the closing does not represent you, the home seller.  The home buyer typically covers the fee for the bank attorney.  The fee charged by an attorney to represent a seller in a typical residential real estate transaction may range from $500 to $1,000.  There may also be relatively minor document preparation and recordation fees that you will have to cover.

♦ Title 5 inspection fee

If your property is not on municipal sewer, Massachusetts requires you to have your on-site waste water disposal system inspected (septic system or cesspool are the two most common) by an approved system inspector.



Click on the image above or click the hotlink to learn more about the Title 5 laws in Massachusetts.

Inspection fees may be $400 or higher, depending on a variety of factors including digging expenses and pumping charges.  Sellers typically are responsible for such fees and for the cost of upgrading or replacing systems that fail the inspection.

Title 5  for  condo owners

Note that if you own a condominium with a number of units on a shared on-site system, you may not need to arrange a special Title 5 inspection just for your unit sale.



State law requires such shared systems to be periodically inspected regardless of the sale of any unit.   Your management company should have the current Title 5 report for your complex on file.  The local board of health should also have a copy.

♦ Smoke and CO detector inspection

If you’re selling your home, Massachusetts requires that you get your smoke and carbon monoxide (CO) detectors inspected by the local fire department.  The fire department will make sure you have the right detectors for your home and will confirm that they work properly.



The state has imposed some complex rules on smoke and CO detectors with which your home needs to comply in order to pass the inspection. These requirements vary by the age of your home and can become traps for the unwary.   Click the hotlink or the image above to access the details about the MA rules and regulations governing smoke and CO detectors.

The fire department will charge you a fee for the smoke/CO detector inspection.  This fee typically ranges between $25 to $100, depending on the fire department involved.

You’ll also have to pay the cost to install any new detectors in your home that may be needed.

♦ Costs to get your home ready for sale

Just about every home has some wear and tear issues that might become impediments to a quick, successful sale.



You’d be wise to take care of the minor defects and blemishes around your home before putting the place up for sale.  But be careful about expensive fix-ups!  You’ll likely lose money on major repairs.

Click the hotlink or the image above to access a very helpful post on home repairs that pay home sellers at closing.

Questions?

If you have any questions about the costs of selling a home in Massachusetts, feel free to contact me!  I also offer a no cost, no obligation Home Value Report that is custom made and designed to put the local market at your finger tips.

Copyright ©2011 02038.com
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            [post_content] => Franklin, Massachusetts is a hot town this May . . . and we’re not talking about the weather! The real estate market in this prime I495 community is sizzling. Franklin home prices are rising and it’s getting to the point that many properties for sale in town go under agreement almost as soon as showings begin.

Shortage of homes for sale

Demand has outpaced supply in Franklin, Mass since the year began. This trend has continued to such a degree in Franklin that housing inventory levels are stuck at extreme lows even at the peak of the spring home selling season.



There currently is only about a 3 month supply of homes for sale in Franklin, Massachusetts. That compares to over 7 months of supply this time last year and over 11 months' worth of homes on the market back in May of both 2011 and 2009.  You'd have to go back to the boom years of 2002 - 2004 to find such tight market conditions in town.

Strong seller's market in Franklin

Today's 3 month supply of homes in Franklin, MA puts this highly desirable community at the forefront of hot real estate towns along the I495 corridor.



While low inventory rules the Franklin real estate market, conditions are not as tight in the regional market surrounding Franklin and indeed for most of the Bay State as a whole.  In both those broader markets, there's about a 6 month supply of homes.  Certainly there are other communities in the Greater Boston area where supplies are as low (or even lower) than they are Franklin, but you would be hard pressed to find a town in the I495 loop with a lower inventory of available homes than in Franklin, MA.

Why are homes in Franklin in such great demand?

Here’s why so many people want to live in Franklin, Massachusetts: Franklin offers attractive home prices with many young subdivisions of colonial homes, a prime location on I495 equidistant from Boston, Worcester and Providence, great childcare services, superb public schools, superior recreational resources (including a YMCA and other tennis and swimming clubs), a vibrant arts community, lot of fun fairs and community activities, and plentiful nearby shopping.  In essence, Franklin is a wonderful place to live and raise a family!

Copyright ©2013 02038.com

 
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