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!
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You get more with Warren Reynolds than you do with other top real estate agents. You’ll find in Warren rare knowledge and experience dedicated to helping you achieve all the value that home brings. Warren has a law degree and 20+ years of home selling success in Massachusetts. — talk with Warren today! 508-561-6259
"We have now bought and sold five homes. By far, you have been the best realtor we have worked with. Your professionalism and knowledge are so valuable to your clients. You made this process so easy. "-CB
Make better decisions
and feel in control.
Did you know you can materially improve your home selling success by choosing your marketing agent and brokerage brand wisely? It’s true! A marketing agent with a sterling reputation, backed by a strong brokerage brand, will do wonders for the reception your home gets upon entry to market. Call Warren today! 508-561-6259
"As first time homebuyers we were fortunate to work with Warren. He was a great asset and sounding board. He always gave solid advice. Warren played a pivotal role in helping us negotiate with a difficult seller. We truly benefitted from having Warren in our corner and so will you." -JK
Maximize your home selling success.
Not only is Warren highly skilled and dedicated to protecting your best interests, he will be highly responsive to your needs! He CARES about his clients and is always, always there for them. Why not give it a try? Contact Warren now and see how well he takes care of you! – talk with Warren today! 508-561-6259
"I had many, many questions which Warren was always more than willing to answer with a never ending patience. Throughout the process Warren looked out for my best interest. I may have purchased a garden style condo but Warren treated me like I was purchasing a million dollar estate!" -MP
Get the attention you deserve.
Warren is a very creative real estate practitioner and he uses that creativity in ways that provide important advantages to clients. Creatively runs in Warren’s family! His uncle was Harnett T. Kane, an internationally-recognized investigative journalist and New York Times best-selling author of thirty books about the American South. Experience Warren’s refreshing difference today! 508-561-6259
"Your creative approach to all aspects of my move helped make the transition easy and pleasurable. You were recommended to me by a friend who appreciated your integrity, expertise, friendliness and conscientiousness - qualities that I have witnessed in abundance as we've worked together." -KB
Get creative with Warren.
Warren is a highly dedicated professional in all his real estate dealings. That means he will continue to serve you well, even when others would compromise on their commitments. Warren’s ultimate goals in business are better transactions and greater client satisfaction. Talk with Warren today! 508-561-6259
"As first time homebuyers we were fortunate to work with Warren. He was a great asset and sounding board. He always gave solid advice. Warren played a pivotal role in helping us negotiate with a difficult seller. We truly benefitted from having Warren in our corner and so will you." -JK
Maximize your home selling success.
All real estate agents are legally and ethically bound to be fiduciaries acting in their client’s best interests. His name stands for integrity and he takes his fiduciary duties to you very seriously. He’ll steadfastly put your interests first throughout your home purchase or sale – talk with Warren today! 508-561-6259
"Warren was always there for us. Throughout the process, Warren kept on top of all our concerns. Warren worked for us, and looked out for our best interest. He is a very professional and caring person." - BP
Feel safe and well taken care of.
Warren is a highly dedicated professional in all his real estate dealings. That means he will continue to serve you well, even when others would compromise on their commitments. Warren’s ultimate goals in business are better transactions and greater client satisfaction. His devotion to excellence can demonstrably improve your home buying and selling decision-making and, consequently, your experience of home ownership. Warren constantly stays current on the local housing inventory. And he is conversant with the broader market trends that affect home sales statewide link to Market Updates. Warren knows that the market knowledge he works so hard to maintain and his high standards of real estate practice help him achieve for you the lasting, true value of home ownership. Talk with Warren today! 508-561-6259
"Warren was the finest real estate agent we've ever worked with. This was evident to us in comparison to quite a few realtors we attempted to utilize, as they were not very helpful, understanding or willing to work with us based on our preferences." -SM
“If you think it’s expensive to hire a professional,
wait until you hire an amateur.” Red Adair
Did you know you can materially improve your home selling success by choosing your marketing agent and brokerage brand wisely? It’s true! A marketing agent with a sterling reputation, backed by a strong brokerage brand, will do wonders for the reception your home gets upon entry to market. Warren is known in the local brokerage community as a dependable, highly skilled professional who is a straight-shooter. Other agents like working with Warren because they know they can trust him to be a reliable partner in any transaction. And the Berkshire Hathaway HomeServices brand stands for sound decisions and extraordinary strength and stability. The “Forever Brand” brokerage created by Warren Buffet sets the standard for the real estate industry by focusing not on selling more homes, but rather on selling homes for more!Call Warren today! 508-561-6259
"As first time homebuyers we were fortunate to work with Warren. He was a great asset and sounding board. He always gave solid advice. Warren played a pivotal role in helping us negotiate with a difficult seller. We truly benefitted from having Warren in our corner and so will you." -JK
Maximize your home selling success.
Not only is Warren highly skilled and dedicated to protecting your best interests, he will be highly responsive to your needs! He CARES about his clients and is always, always there for them. In person, by phone, email or text, whenever you need him, you’ll get a prompt response from Warren! Warren’s clients rave about the high degree of consideration and attention they get from him. Why not give it a try? Contact Warren now and see how well he takes care of you! – talk with Warren today! 508-561-6259
"I had many, many questions which Warren was always more than willing to answer with a never ending patience. Throughout the process Warren looked out for my best interest. I may have purchased a garden style condo but Warren treated me like I was purchasing a million dollar estate!" -MP
Get the attention you deserve.
Warren is a very creative real estate practitioner and he uses that creativity in ways that provide important advantages to clients. Creatively runs in Warren’s family! His uncle was Harnett T. Kane, an internationally-recognized investigative journalist and New York Times best-selling author of thirty books about the American South. Warren employs his own creativity by producing compelling marketing, both in print and especially online! His www.02038.com, is a highly effective website promoting the wonderful lifestyle afforded by the Town of Franklin, MA. And his Market Updates content on Massachusetts real estate trends gives home buyers and sellers alike the context they need to make more informed decisions about their housing investments. Warren frequently uses his abilities to devise resourceful solutions to the diverse challenges that threaten to complicate most real estate transactions. Warren has made real estate his career and won many sales awards in his 20+ years in brokerage, including the highly prestigious Chairman’s Circle Gold Award and the elite Centurion Award. Experience Warren’s refreshing difference today! 508-561-6259
"Your creative approach to all aspects of my move helped make the transition easy and pleasurable. You were recommended to me by a friend who appreciated your integrity, expertise, friendliness and conscientiousness - qualities that I have witnessed in abundance as we've worked together." -KB
Get creative with Warren.
You get more with Warren Reynolds than you do with other top real estate agents. You’ll find in Warren rare knowledge and experience dedicated to helping you achieve all the value that home brings. Warren has a law degree and 20+ years of home selling success in Massachusetts. His legal knowledge and decades-long experience in putting — and keeping — real estate sales together give him a better handle on the legal, practical and emotional dynamics of the real estate transaction. Warren uses these skills to empower clients to achieve more! He often anticipates and resolves problems BEFORE they can become serious impediments. Enjoy the sense of trust, security and control that comes from having a highly skilled expert at your side — talk with Warren today! 508-561-6259
"We have now bought and sold five homes. By far, you have been the best realtor we have worked with. Your professionalism and knowledge are so valuable to your clients. You made this process so easy. "-CB
Make better decisions and feel in control.
All real estate agents are legally and ethically bound to be fiduciaries acting in their client’s best interests. But many agents give their fiduciary duties short shrift in their quest for the quickest and easiest path to a closing. Not Warren Reynolds! His name stands for integrity and he takes his fiduciary duties to you very seriously. He’ll steadfastly put your interests first throughout your home purchase or sale. This may make Warren work longer and harder for you than most other agents would. But ultimately, Warren’s diligence and attention to detail is his commitment to an experience that transcends the sale. He wants you to have the confidence and peace of mind that comes with having a true fiduciary protecting you. Discover the difference of working with an agent who does not view you as just another opportunity for a commission – talk with Warren today! 508-561-6259
"Warren was always there for us. Throughout the process, Warren kept on top of all our concerns. Warren worked for us, and looked out for our best interest. He is a very professional and caring person." - BP
Feel safe and well taken care of.