When the lowest prices paid in 2020 for units at the Franklin Crossing Condominiums exceed the highest prices paid at Franklin Crossing just two years ago, you know there has been a sea change in values at the popular Franklin, MA condo community!
What a run prices have had at Franklin Crossing over the last eight years! From a low of $123,785 in 2012, the average sale price now stands at $230,781, up 11.3% for the year and an astounding 86% higher than just eight years ago!
Eight sales in 2020
Eight condos at Franklin Crossing sold on MLS-PIN in 2020.
Of those eight sales, five were above asking price while only three sold at a discount from asking.
Unit 810 (sold for $210K) had a renovated kitchen but suffered from a cigarette odor. The odor kept the selling price for that unit below what Unit 2005 sold for, even though Unit 2005 had a decidedly old kitchen.
Without knowing about the cigarette odor at Unit 810, that $5K price discrepancy would have been a real head scratcher. This shows that you need to get inside homes for sale to fully understand the factors that will decisively influence value! (This is why websites using algorithms to estimate home values can be wildly unreliable.)