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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] => 2012 witnessed a strong 22% surge in home sales activity across Massachusetts. The Commonwealth enjoyed 12 consecutive monthly gains in home sales activity, demonstrating a durable real estate market recovery. The median sales price of single family homes in Massachusetts rose fractionally in 2012, with other measures of Bay State property values showing modest but encouraging gains. In sum, the tone of the real estate market improved dramatically in 2012, setting the stage for further advances in 2013.
Sales volume soars
Massachusetts single family home sales rose 22% in 2012 as tracked by MLS-PIN, the dominant MLS in Mass.
This was the largest year-over-year percentage increase in home sales volume in the Bay State for decades. This gain marked the best year for home sales in MA since the 2007 - 2009 world financial crises began. A total of 42,648 single family home sold in 2012 on MLS-PIN.
Home prices up marginally
The median price of MA single-family homes sold in 2012 on MLS-PIN rose fractionally to $295,000, up from $293,500 a year earlier.
The median price for all single family homes in the state for 2012 is 1.7% above the recent low of $290,000 in 2009.
In another measure of MA home values near the end of 2012, Greater Boston home prices as gauged by the seasonally adjusted Case-Shiller Index were up 3.4% over their 2009 lows.
At the publication of this post, the Case-Shiller Index was current to October 2012.
Franklin, MA market active in 2012
Single family home sales activity in the local Franklin, MA market increased during 2012.
243 homes sold in Franklin on MLS-PIN, compared to 227 homes in 2011. It was the best year for home sales in Franklin since 2009.
Franklin home prices higher
2012 saw the median sale price for of all single family homes in Franklin rise 4.1% to $380,00 (from $365,000 in 2011).
This was the first annual price gain for houses in Franklin since 2009.
Not all house styles in Franklin shared equally in the 2012 median sale price gain. Please consult the reports separately available on 02038.com for in-depth coverage of how the median sale prices of the various styles of houses in Franklin performed in 2012. You can access reports for colonials, capes, ranches, antiques, and split level homes.
Franklin house sales by price bracket
During 2012, the greatest number of single family homes sales in Franklin occupied the $250,000 - $599,999 price range.
There were a considerable number of other sales in the $350,000 to $399,999 price bracket with the next-largest concentration of sales taking place in the $500,000 - $599,999 bracket. If you are a prospective home seller thinking of selling your Franklin home, seek the advice of a local real estate broker who knows the Franklin market very well. I would be happy to assist you with this; please contact me at 508-613-2889 or email me for a no-cost, no-obligation home value analysis. I'll make sure your home is priced appropriately so that it sells for the most it can command on the market!
If you are thinking of moving in 2013
With 2012 having seen such an overwhelming surge in home sales activity across MA, is 2013 a smart year to make a move? If you are thinking of buying or selling a home this year, take into consideration the following:
Mortgage rates are currently so low as to be the fundamental driver of your decision making.
Today’s historically low cost of borrowing presents a once in a lifetime opportunity to dramatically improve your housing situation in ways that may not be affordable once rates rise - and rates will rise at some point in the future, perhaps without warning!
Here’s to a happy, healthy and prosperous 2013!
Copyright ©2013 02038.com
[post_title] => 2012 MA real estate recap
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[post_content] => Franklin, MA single family home sales shot up a stellar 45% in April 2010 over year ago levels. According to MLSPIN, the regional MLS system in Massachusetts, the sale surge in Franklin easily outdistanced the 35% increase in home sales experienced across Massachusetts last month.
Franklin, MA real estate has best April since 2003
The 29 single family homes sold in Franklin last month was the highest sale total achieved in Franklin for any April since 2003 when 30 Franklin, Massachusetts single family homes changed hands.
Pending home sales in Franklin, MA also rose in April, but not at such a sharp rate as for completed sales.
April home sales up despite March’s bad weather
April’s MLS home sale data confirms the rebound in Massachusetts real estate sales reported recently by MA real estate tracking firm The Warren Group.
April’s performance was all the more impressive coming on the heels of March’s heavy rain and flooding events in Massachusetts.
Home showing and selling activities in March were negatively impacted by all the rain. (Since home sales in MA take approximately 4 – 8 weeks to “close”, the majority of home sales that went of record last month likely resulted from sale agreements struck between mid-February through the end of last March.)
Top and bottom home sales in Franklin, MA
Below are the four highest and four lowest MLS home sales in Franklin that went of record last month.
You’ll note that the highest priced home sales in Franklin, Massachusetts last month were all below $700,000. This makes Franklin an oasis of relative affordability among communities with such excellent public school systems in suburban MA.
Eligibility deadline for home buyer tax credits has passed
Home buyers needed to get a binding home sale agreement signed by April 30, 2010 to be able to qualify for either of the Federal home buyer tax credits.
As the local economy continues to improve, we'll have to wait for home sale results over the coming few months to see what effect the end of the federal home buyer tax credits will have on the Franklin, MA real estate market.
There still appear to be some attractive offerings in Franklin and surrounding towns; click the hot link to view homes for sale in the greater Franklin region.
Happy house-hunting!
Copyright ©2010 02038.com
[post_title] => Franklin Massachusetts (MA) home sales surge 45% in April
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[post_content] => The top four and bottom four single family home sales in Franklin, MA for January 2010 mark a fairly unusual month for property sales in the Franklin community.
Low home sale prices
January’s transactions reflect some remarkably low home sale prices for Franklin, Massachusetts.
$82,000 home sale
At just $82,000, 60 Alpine Place was by far the lowest-selling single family home in Franklin for the past 12 months. (The next lowest home sale in Franklin over the last 12 months was slightly in excess of $140,000.)
60 Alpine was a post-foreclosure REO sale. The house is small but was perfectly habitable when I visited it.
The home abuts a major fuel oil delivery business, so the large fuel oil storage tanks do loom immediately behind the house. Not the best setting for a residence!
Highest-priced home sale in January
15 Lockewood Drive was the top sale in Franklin for January, 2010.
It's noteworthy because at $544,000, the selling price for this home is exceptionally low for a “top home sale of the month” in Franklin, MA. (Home prices in Massachusetts are high!)
The selling price for this home derives from its relatively small living area. (2,796 sq ft for a “top home sale of the month” in Franklin is notably undersized.)
Otherwise, the neighborhood setting for this property is good and the home is appealing on the inside.
The chart above shows the selling prices and living areas of each of the highest-priced home sales in Franklin each month going back to January, 2009. It demonstrates how the "top sale" for January 2010 was relatively small and low-priced compared to all of the other top monthly home sales.
Signs of life in January
January is usually a pretty subdued month for real estate in Massachusetts. The holidays have just ended. Days are short and the weather is often cold and snowy.
Despite the advent of winter, there have been recent signs of strength in the local real estate market.
Home sale volume was up across MA for 2009 while Greater Boston home prices are off their lows set last March.
The 2009 Greater Boston Housing Report Card cited Franklin, MA as enjoying a particularly strong real estate market.
The Report Card took pains to describe in detail a likely sharp future rise in Massachusetts home prices once an economic recovery gets firmly established.
More MA housing market insights
Click the link to see a video recapping the 2009 MA real estate market with a special focus on home sales in Franklin MA.
You might also enjoy another video on how the Federal home buyer tax credits may affect area home sales in 2010.
If you are a homeowner thinking of selling, simply click the link to order a home value report for your current property.
And you can use this link to search the Realtor® database of 1000s of homes for sale in the Route 495 region of Massachusetts.
Copyright ©2010 02038.com
[post_title] => Franklin Massachusetts (MA) home sales for January 2010
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[post_content] => A very early reading of the 2010 Massachusetts real estate market taken in mid-January confirms the continuation of the trend towards stabilization and improved conditions that so strongly characterized the latter half of 2009.
Inventory levels of homes for sale in MA showed improvement in January 2010, as homebuyers took advantage of low interest rates and the two Federal home buyer tax credits to purchase property faster than new MA homes for sale hit the market.
24% drop in standing inventory
The improvement was especially evident in the overall Massachusetts real estate market. Inventory levels of single family homes for sale on the MLS system serving the entire state dropped nearly 24% in January 2010 compared to January 2009. There were 5.1 months worth of single family homes for sale across MA in January 2010 (as opposed to 6.7 months this time last year).
Franklin, MA homes for sale in short supply
At a paltry 3.9 months supply, Franklin, MA enjoyed especially low levels of single family homes for sale in January. The thinning of single family home inventory in Franklin became evident during the last few months of 2009, reflecting a strengthening of the local market. Click the link to see a YouTube video on the 2009 Franklin, Massachusetts real estate market.
Franklin condo market shows improvement
The one month’s results do not make a trend or constitute a reliable indicator of the future. But January’s sizable 39% decline in Franklin, MA condo inventories is nonetheless a very welcome development.
There were 8.9 months of condos for sale in Franklin in January 2010, quite a reduction from the staggering 14.7 months available this time last year.
The Franklin condo market merits close monitoring in coming months – I’ll keep you updated!
What's the value of your home?
If you own a home and are thinking of selling, please contact me for a free, no obligation home value report.
2010 is shaping up to to be the best time to sell a home in MA in the last several years - get your home value report today!
Copyright ©2010 02038.com
[post_title] => Real estate starts 2010 on the right foot in Massachusetts (MA)
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[post_content] => Home sales during November in Franklin, MA amply demonstrate the on-going recovery of the local housing market. 20 single family homes sold in November 2009, compared to only 16 sales in November 2008.
Pending home sale volume much improved
The most striking confirmation of the improvement in market conditions this November comes with pending single family home sales (homes under agreement but not yet sold).
16 Franklin single family homes went under agreement this November; quite a change for the better when weighed against the shockingly low 9 pending sales posted back in November 2008.
November’s vigorous home sale activity in Franklin, MA reflects an improving local economy and stronger regional home buying activity.
Highest and lowest priced Franklin sales for November
The highest-priced Franklin single family home sale in November 2009 was 38 Lenox Drive which sold for $835,000. This ranks as the 3rd highest single family home sale to date in Franklin for 2009. It's significant that this sale came so late in the year, during a time when home sale prices typically reflect a late-fall slow down.
Lower-priced homes continued to sell well in Franklin in November, spurred by the $8,000 first time home buyers’ tax credit.
Copyright ©2009 02038.com
[post_title] => Vigorous November Home Sales in Franklin (MA) Massachusetts
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[post_content] => The S&P/Case-Shiller Home Price Index for Boston took a breather in September, 2009, the Index’s most recent reporting period. The September Index slipped 0.2%, settling at 155.62. This broke five consecutive months of strong gains in Greater Boston home prices in 2009.
MA home prices well above March lows
Despite September’s price lull, Metro-Boston single family home values remain a solid 6.7% higher than the 145.83 Index bottom seen last March, according to Standard and Poor’s.
Massachusetts home sale volume up
More upbeat news was published this week in a separate report issued by The Warren Group, a Massachusetts company with over 135 years experience in tracking the New England real estate market.
Sales of single family homes in Massachusetts soared 17.2% in October 2009 compared to October of last year, according to the report.
October marked the fourth consecutive month of rising Massachusetts home sales.
"The tax credit that's being offered to home buyers has certainly stimulated home sales. And while unemployment is still a concern, I think that people who have jobs are probably feeling a little bit more optimistic about the financial markets and the overall economy and they're more willing to go out and make big purchases like buying a home," said Timothy Warren Jr., CEO of The Warren Group.
Copyright ©2009 02038.com
[post_title] => Massachusetts (MA) home sales soar; slight pullback in Greater Boston home prices
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[post_content] => Home sales in Franklin, MA continued a strengthening trend in September 2009. 20 single family homes sold, compared to only 17 September sales in 2008. This marked the 6th consecutive month (since April 2009) that the number of homes sold in Franklin, Massachusetts has exceeded 2008 levels.
Good news continues
More good news came in pending sale totals (homes under agreement but not yet sold) for September. The number of Franklin homes that went under agreement in September 2009 exceeded prior years’ September totals going back through 2006.
26 single family homes went under agreement in Franklin, Massachusetts in September 2009. This exceeded pending home sales for September 2008 (22), 2007 (19) and 2006 (24).
Optimism on economy, home prices on a 4 month rise
September’s solid home sale activity in Franklin, MA reflected a brightening outlook for the general MA economy.
In addition, home prices in the Greater Boston metro region have risen over the last 4 months.
September's high/low Franklin home sale prices
The highest-priced Franklin home sale in September was 5 Symphony Drive. At $807,000 this sale ranks as the 5th highest in Franklin for 2009 to date.
Lower-priced homes continued to sell exceptionally well in September, spurred by the scheduled expiration on the first time home buyers’ tax credit at the end of November.
Bumpy recovery ahead?
It would be foolhardy to expect an uninterrupted recovery in the Massachussetts real estate market. However encouraging the market's performance has been since the dismal days of February, no market rebounds on a straight line. We are sure to hit some dips in the road ahead both in terms of general market activity and home sale prices.
But it would seem clear that we in Massachusetts are now in much better shape (and face brigher futures) than many other regional real estate markets across the US.
Copyright ©2009 02038.com
[post_title] => Solid September for Franklin (MA) Massachusetts home sales
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[post_content] => Forbes.com has projected that metro-Boston home prices will rise over 20% in the next 5 years. This means that Boston home prices will recover almost all of the value lost in the recent real estate crash if the future unfolds as Forbes.com predicts.
Bullish forecast
This bullish forecast for Massachusetts real estate was part of an in-depth analysis of major regional US real estate markets conducted by Forbes.com. Forbes used data from the S&P/Case-Shiller Home Price Index, drawing on the same data used in my recent video report on the high likelihood of a real estate rebound in MA.
MLS data supports stronger market forecast
A look at homes for sale data from MLSPIN (the dominate MLS in Massachusetts) confirms that the MA real estate market is indeed looking better.
Inventories of single family homes for sale in MA dropped in September 2009 in all three MA markets tracked by this blog.
A decline in home for sale inventory is good news for real estate because it indicates that demand is catching up with supply. When demand for homes “absorbs” excess inventory, home prices typically begin to rise.
Home prices have been inching higher recently in Massachusetts: the S&P/Case-Shiller Home Price Index for Boston has risen 3 months in a row.
Single family home inventories decline
Of the three Massachusetts markets followed by this blog, Franklin, MA saw the most pronounced absorption of single family homes for sale in September 2009.
The inventory of Franklin, MA single family homes for sale dropped to 4.2 months of supply in September 2009 (from 5.8 months in September 2008).
It was the same story on a lesser scale in the Franklin regional market and the overall market in Massachusetts: each saw single family homes for sale inventories drop from year ago levels.
There were 6.3 months’ worth of single family homes for sale in the regional market surrounding Franklin, MA in September 2009 (compared to the 7.7 months of supply a year ago). Single family homes for sale inventory in all of Massachusetts dropped to 7 months of supply according to data from the MLS (versus 8.3 months of supply in September 2008).
Less bullish news for the Franklin condo market
The supply of condominiums for sale in all of Massachusetts declined in September 2009. This is consistent with the improving picture seen in the single family housing market in Massachusetts.
There were 7.7 months of condo inventory in the overall MA market in September 2009 compared to 7.7 months this time last year.
However, the Franklin, MA condominium market remains saddled with excess inventory.
The Franklin market has struggled to digest the new inventory that continues to come in line from all the new construction condo projects in town. The regional market surrounding Franklin likewise saw inventories rise in September 2009.
Copyright ©2009 02038.com
[post_title] => Home prices to rise 20 percent in Massachusetts - Forbes.com
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[post_content] => August 2009 was another good month for home sales in Franklin, MA. 33 single family homes sold in Franklin for the month, according to data maintained by MLSPIN (the largest MLS system serving Massachusetts).
Sales of lower-priced home were especially brisk, spurred by the first time home buyer tax credit. Under current tax laws, first time home buyers must take title to their new residences no later than November 30, 2009 in order to qualify for the credit.
This deadline has created a growing urgency among first time buyers to find and close on a home. Demand for starter homes has intensified in Franklin to the point where two of the four lowest-price homes sales in August sold over asking price.
Copyright ©2009 02038.com
[post_title] => Why Lower-Priced Homes Are Selling in Franklin, MA
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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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by Warren Reynolds on May 18, 2013
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 [...]
Tagged as: Franklin MA Home Sales, Massachusetts Real Estate
{ 0 comments }
by Warren Reynolds on January 14, 2013
2012 witnessed a strong 22% surge in home sales activity across Massachusetts. The Commonwealth enjoyed 12 consecutive monthly gains in home sales activity, demonstrating a durable real estate market recovery. The median sales price of single family homes in Massachusetts rose fractionally in 2012, with other measures of Bay State property values showing modest but [...]
Tagged as: Franklin MA Home Sales, Massachusetts Real Estate
{ 0 comments }
by Warren Reynolds on May 3, 2010
Franklin, MA single family home sales shot up a stellar 45% in April 2010 over year ago levels. According to MLSPIN, the regional MLS system in Massachusetts, the sale surge in Franklin easily outdistanced the 35% increase in home sales experienced across Massachusetts last month. Franklin, MA real estate has best April since 2003 The [...]
Tagged as: Franklin MA Home Sales
{ 0 comments }
by Warren Reynolds on February 3, 2010
The top four and bottom four single family home sales in Franklin, MA for January 2010 mark a fairly unusual month for property sales in the Franklin community. Low home sale prices January’s transactions reflect some remarkably low home sale prices for Franklin, Massachusetts. $82,000 home sale At just $82,000, 60 Alpine Place was by [...]
Tagged as: Franklin MA Home Sales
{ 0 comments }
by Warren Reynolds on January 18, 2010
A very early reading of the 2010 Massachusetts real estate market taken in mid-January confirms the continuation of the trend towards stabilization and improved conditions that so strongly characterized the latter half of 2009. Inventory levels of homes for sale in MA showed improvement in January 2010, as homebuyers took advantage of low interest rates [...]
Tagged as: Franklin MA Home Sales
{ 2 comments }
by Warren Reynolds on December 4, 2009
Home sales during November in Franklin, MA amply demonstrate the on-going recovery of the local housing market. 20 single family homes sold in November 2009, compared to only 16 sales in November 2008. Pending home sale volume much improved The most striking confirmation of the improvement in market conditions this November comes with pending single family [...]
Tagged as: Franklin MA Home Prices, Franklin MA Home Sales
{ 0 comments }
by Warren Reynolds on November 25, 2009
The S&P/Case-Shiller Home Price Index for Boston took a breather in September, 2009, the Index’s most recent reporting period. The September Index slipped 0.2%, settling at 155.62. This broke five consecutive months of strong gains in Greater Boston home prices in 2009. MA home prices well above March lows Despite September’s price lull, Metro-Boston single [...]
Tagged as: Franklin MA Home Sales, Home Prices, S&P Case Shiller Index
by Warren Reynolds on October 3, 2009
Home sales in Franklin, MA continued a strengthening trend in September 2009. 20 single family homes sold, compared to only 17 September sales in 2008. This marked the 6th consecutive month (since April 2009) that the number of homes sold in Franklin, Massachusetts has exceeded 2008 levels. Good news continues More good news came in [...]
Tagged as: Franklin MA Home Sales
{ 0 comments }
by Warren Reynolds on September 18, 2009
Forbes.com has projected that metro-Boston home prices will rise over 20% in the next 5 years. This means that Boston home prices will recover almost all of the value lost in the recent real estate crash if the future unfolds as Forbes.com predicts. Bullish forecast This bullish forecast for Massachusetts real estate was part of [...]
Tagged as: Franklin MA Home Sales, Franklin MA Homes for Sale
{ 0 comments }
by Warren Reynolds on September 3, 2009
August 2009 was another good month for home sales in Franklin, MA. 33 single family homes sold in Franklin for the month, according to data maintained by MLSPIN (the largest MLS system serving Massachusetts). Sales of lower-priced home were especially brisk, spurred by the first time home buyer tax credit. Under current tax laws, first [...]
Tagged as: Franklin MA Home Sales
{ 0 comments }
Warren Reynolds, Esq, GRI, e-PRO
Tel: 508.613.2889 | Contact
Century 21 Commonwealth
9 Main Street
Franklin, MA 02038
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