Highest home sale in 2021

The highest price paid for a single-family home in Franklin during 2021 was $1,677,900. While decidedly small potatoes in many of the affluent communities throughout Greater Boston, it was the highest price ever paid for a home in Franklin listed on MLS-PIN.

Before 2021, Franklin’s record-high sale price on MLS-PIN was $1,577,000, which was set in 2020.

Franklin’s sale price record broken five times in 2021

What’s most noteworthy about 2021’s housing market in Franklin is that the town’s record-high sale price set in 2020 was surpassed FIVE times just one year later in 2021!

Each of the top-five home sales in Franklin for 2021 surpassed the town’s prior all-time high home sale price of $1,577,000 recorded in 2020. That says a lot about the direction of home values in town during 2021!

Median home sale price at an all-time high

Overall home prices in Franklin, MA rose strongly during 2021, in tandem with the high end of the sales spectrum.

The median single-family home sale price for Franklin reached a record high of $597,500. It was the second year in a row Franklin’s median sale price hit a record.

Sales were extremely brisk, with the average days-on-market at a very low thirteen days before an offer was accepted.

Annual sales volume recovers from 2020 COVID shut-down

The number of single-family home sales in Franklin recorded on MLS-PIN during 2021 was significantly higher than the previous year’s total.

2020’s sales downdraft can best be attributed to the economic and societal disruptions caused by the onset of the pandemic and the ensuing shutdown. These uncertainties suppressed the number of home sellers willing to put their properties on the market in 2020.

Extremely low supply of homes for sale

The robust home sales volume in Franklin in 2021 is all the more remarkable given the exceedingly low housing inventory the town experienced throughout the year.

The housing supply in Franklin has been exceptionally restricted for years. Four months of inventory is considered a sellers’ market in normal times. The fact that Franklin, Massachusetts currently has a scant one-third of a month of housing supply shows just how hard it is to find a home to buy in town! 2021 was a wonderful time to be a home seller in Franklin!

The outlook for 2022

The market for homes in Franklin in the year ahead will be greatly influenced by the direction of mortgage interest rates. There is a general expectation that rates will move higher in 2022.

While no one can predict the future with certainty, most experts expect that affordability will remain a major issue and that housing inventory will remain tight as 2022 gets underway. The expectation that mortgage rates will rise as 2022 progresses means that prospective home buyers may want to act soon to lock in an affordable interest rate . . . before borrowing costs climb significantly. Waiting to buy could mean paying more per month for your home if mortgage rates rise as expected later in the year.

For prospective home sellers, experts forecast that demand for housing will continue to outpace available supply, so long as mortgage rates remain at their current rock bottom levels. While this is generally good news for sellers because it means less competition, a combination of high prices and rising interest rates later in 2022 should narrow the pool of potential buyers who can afford to buy your home. The emphasis for home sellers in 2022 should be on selling your home earlier, rather than later, in the year. As soon as practicable in the new year, you should hire a real estate agent who utilizes technologically-advanced marketing tactics to reach qualified buyers and get your home on the market.

If you think you may be ready to buy or sell, give us a call at 508-561-6259 or use the contact form below. As local market experts, we can fill you in on any issues impacting your move and create a custom plan to help you meet your real estate goals.

Copyright ©02038.com

Franklin’s median sale price is now $147,500 above where it stood back in the first quarter of 2015.  That’s a 39 percent jump. For homeowners in Franklin, it’s a wonderful time to sell . . . if you have somewhere to go! (See end of post for more on this.)

Video detailing real estate market in Franklin during 1^st quarter

Watch the above video to get a “what’s in it for me” depiction of the red hot housing market conditions in Franklin, Massachusetts during the initial three months of 2021.

Offers above asking price now the norm

Mirroring fevered market conditions throughout the I-495 region and across much of Massachusetts, bidding wars and over-asking price offers became the expected routine for homes listed in the first quarter of 2021.

In a compelling sign of rising home prices, the percentage of home selling price to original list price exceeded 100% in Franklin for the first time since Franklin sales data started being maintained by MLS-PIN back in the late 1990s.

Very few homes available

Home buyers in Franklin, as in most other communities in Massachusetts, faced appallingly low supplies of homes for sale in the first quarter of 2021. As of April 1, there were only six single-family homes for sale in Franklin, MA.

That’s an absurdly low number of homes for sale in a community of over 34,000 residents with a housing stock of 7,744 single-family homes, according to the town’s assessor records.

That compares to seventeen homes for sale the previous April 1^st and, more tellingly, thirty-one homes available on April 1 in 2018 and fifty-one single-family homes for sale in Franklin at the start of April in 2016.

Fractional months of supply

Expressed as months of supply, the picture for beleaguered home buyers in 2021 looks even bleaker.

From nearly nine months of supply in March 2011, the inventory of single-family homes for sale in Franklin this March reached a shockingly low 0.2 months – that’s less than one week of supply!

To give you context: six months of housing supply is considered a real estate market in equilibrium, while four months of available inventory is deemed a sellers’ market. One week of supply denotes a market nearing a lock-up. And don’t think you can go one or two towns over from Franklin and find a lot of homes to buy. The dearth of supply exists in most communities in the Bay State.

What home buyers should expect

What do current market conditions mean to you, if you’re in the market to buy a home?

If you’re planning on buying a home this year, be ready to stand in line outside open houses at new listings.  There are very few listings to look at and lots of buyers competing for them.  What this means is that you must have a very good real estate professional working on your behalf to find new listings for you and secure the purchase agreement for you very quickly – literally during the first few days the home comes on the market.  You should expect to pay at least asking price, if not significantly above asking price, if you seek to bid on homes brand new to the market that seem properly priced.

If a home seems over-priced to you or if it has been sitting unsold for awhile, you should have more negotiating leverage.

Below are select homes in Massachusetts that have been for sale for at least several weeks – some a lot longer:

What home sellers should expect

If you’re selling, what can you expect to experience in the current market?  Number one: your home is going to sell very quickly.

Additionally, if you price your home appropriately to the market, with a professional who knows what they’re doing and they market the listing really effectively online, what’s going to happen is that you’re going to have a lot of showings and a lot of competing bids for your home. 

A word to the wise: resist the temptation to over-price your property. Even in this market, if you grossly over-price you will not sell!

So if you price the home correctly, you’re likely going to be able to command more than the asking price for your home. It’s a great opportunity to cash out your home equity at historic high prices.

Today’s sellers in two camps

As I wrote near the start of this post, it’s a wonderful time to sell . . . if you have somewhere to go!

Massachusetts home sellers are split into two camps in 2021.  The first camp includes older sellers (retirees and those about to retire) along with sellers who already own a second home. These are the big winners in today’s market conditions. Those with second homes already have a place to move to, even if on an interim basis. And older sellers with grown children are in position to trade out to a lower cost area.  The sellers in this camp have a lot of equity and are free to sell. They should capitalize on today’s extremely high prices.

It’s a different matter for home sellers in the other camp. These are sellers who have a need to buy back into the same market in which they are selling.  They do not have ready access to interim housing. They often have school age kids or other community ties that make them need to stay local. These sellers are faced with the same low inventory and high prices confronting all other buyers. 

It’s a real challenge with today’s extremely low housing inventory to find your next home while you sell your current property. Many sellers in this camp get discouraged and end up staying put in their current homes, even though those homes have become too small for them or in some other way do not meet their current needs.

If you fall into this second camp, there are some strategies open to you that will enable you to successfully move. I would be happy to discuss these options with you.

Ask questions to Warren Reynolds

You can use the form below to ask any buying or seller questions to attorney and real estate broker Warren Reynolds. He’s here to help you!

(All Warren asks is that if you are already under contract with another real estate agent, please rely on the advice of that agent.)

Copyright ©02038.com

Single family home sales in Franklin, Massachusetts have fallen off a cliff so far in 2020. Sales volume is down 24% compared to 2019. The number of homes sold year-to-date is just about at the lows of the 2009 – 2011 Great Recession.

Video reviews the Franklin market

Lack of supply, not lack of demand

In reality, Franklin real estate has been very strong since the easing of the COVID-19 shutdown last May. Housing in Franklin fully shared in the “Summer Surge” that saw home buying demand soar across Massachusetts.

What appears to be behind the collapse of single family home sales volume in Franklin is the staggering lack of housing inventory for sale in town.

For years, we have been reporting on the relentless rise in Massachusetts home prices which has been accompanied by an equally remorseless decline in housing inventories throughout the Bay State. But the ongoing decline in housing supply for sale in Franklin this year has reached dire lows. On September 15th, 2020, there were only FOURTEEN single family homes for sale in Franklin on MLS-PIN. That compares to thirty-six homes on the same day in 2019, fifty-four in 2018, and seventy on September 15 back in 2017. (That’s to say nothing about the mind-boggling fact that there were one hundred fifty-seven single family homes for sale in Franklin on September 15, 2006!)

Franklin not alone in terms of lack of supply

The crushing inadequacy of housing supply does not just afflict Franklin, MA. The appalling scarcity of available homes is pretty evenly spread across all communities in Eastern Massachusetts and, indeed, throughout the Commonwealth.

The chart above shows in blue the current housing inventories in select communities in the I-495/I-95/1-90 region of Massachusetts. The red bars show the corresponding supplies in regional markets and all of the Bay State. Six months of inventory is typically deemed a market in equilibrium. Four months is a seller’s market. The fact that much of MA has one month or less of single family housing for sale speaks volumes about the difficulty of finding decent housing in Massachusetts.

Homes in Franklin sell quickly

Take a look at number of days to offer in Franklin:

The chart above shows the average number of days a listing takes to find a buyer in Franklin. At twenty-four days, what homes that are available in town sell quickly. (In 2020, many Franklin listings have accepted offers in less than one week.)

Franklin home prices remain relatively affordable

The only good news for Franklin home buyers this September relates to the great value homes in town continue to offer, compared to other desirable communities in Greater Boston.

While admittedly at an all-time high, the year-to-date median sale price of single family homes in Franklin, MA is roughly in line with the median price in 2018.

The median sale price in Franklin so far this year is only 19% above where it was in 2014. Compare that to prices in other communities in and close to Boston that have seen prices rise over 50% – and in some cases more than double – in the same period!

Home buyers should give Franklin, MA careful consideration. And prospective home sellers in Franklin do need to price properly. If you have questions about Franklin real estate, either as a buyer or a seller, use the form below to contact Warren Reynolds – he’s here to help you!

The median sale price of single family homes in Massachusetts sold on MLS-PIN now stands 14.6% above its prior market-cycle-high set back in 2005 and a sizable 43% higher than its 2009 Great Recession low.

Mortgage rates moving the housing market

The Fed’s dramatic easing of monetary policy at the end of 2018/start of 2019 immensely helped the housing market as 2019 unfolded.

As detailed by Mortgage Daily News, average 30-year-fixed mortgage rates fell sharply from the end of 2018 into 2019.  From a high of about 5% in December 2018, the average 30-year mortgage rate had fallen as low as 3.5% by last fall.  The decline boosted home buyers’ purchasing power significantly and powered gains in home prices throughout 2019.

Strong sales performance

The number of Massachusetts single family homes that sold on MLS-PIN in 2019 rose marginally over 2018’s total.

As detailed below, 2019’s sales volume gain came during a year of relentlessly low housing inventory.  So the fact that there was any rise at all in the number of homes sold in 2019, even a minimal increase, actually is a very bullish indicator.

Crushingly low supply of homes for sale

2019 showed no mercy to Bay State home buyers in terms of housing choice: it was yet another year of low housing inventory.

The chart above shows the number of single family homes for sale on MLS-PIN each January 15 for the last fifteen years; it paints a very clear picture of the extremely low numbers of homes for sale in Massachusetts throughout 2019. 

The chart below demonstrates the scant supply of homes for sale in another way: it shows how many months of housing supply there are in Massachusetts.

It’s very telling that a two-month supply of available homes, last seen in 2016, looks downright ample compared to how low supplies are at the start of 2020. 

Conventionally, a six-month supply of homes is deemed a housing market in equilibrium. A four-month supply typically denotes a market favoring home sellers.  It’s shocking that, in the first month of 2020, we are faced with less than a one-and-one-half-month of supply of homes for sale across Massachusetts and in all the sub-markets represented in the above chart.  Today’s abysmally low inventories of homes for sale should serve as warning to all prospective buyers about the upcoming spring home buying season: if you find a home for sale that works for you, buy it immediately!

Franklin, MA housing in 2019

To get a sense of how the housing market fared in Franklin, MA during 2019, start by taking another look at the chart above showing the months of supply of homes: there currently is in Franklin, MA LESS than a one-month supply of single family homes – that’s dire!

Here’s how the current supply of homes for sale in Franklin breaks down by price bracket:

There’s very little supply in every price bracket below $800,000.  And it was pretty much like that throughout all of 2019!

Franklin median price at record high

Given how depressed the supply of homes has been in Franklin in the last few years, the median sale price performance in Franklin for the year was fairly muted.

The median sale price of single family homes in Franklin, as reported by MLS-PIN, rose 2.3% in 2019 compared to the median price for 2018.  Franklin’s median sale price for 2019 is only 3.5% higher than it was at its 2007 prior market-cycle high. Franklin remains a relative bargain in the Greater Boston area!

So while supplies are tight and home prices certainly are at all-time highs in Franklin, MA, prospective home sellers in town should resist the temptation to push the asking price envelope in 2020.  Even in the current pro-seller market, significantly over-priced homes will face resistance from the home-buying public.

Home sales volume in Franklin slips

For the first time in the last five years, the number of single family homes sold in Franklin on MLS-PIN fell in 2019.  The decline was a slight 3.6%.  More housing inventory in 2020 should be the cure for any sags in home sales volume in Franklin this year.

©2020 02038.com

At $450,000, the median sale price in Franklin is the highest for the first quarter of any year on record, according to the data maintained by MLS-PIN!  The median sale price of single family homes in Franklin rose 4.7% during the first three months of the year, compared to the same period one year ago.

Record high home prices for all of MA

It’s the same “record high price” story for all of Massachusetts as well.

The MA median single family home sale price rose 5.5% in the first quarter of the year to $385,000, an all-time high.  That’s a gaudy 51% higher than where the Commonwealth’s median sale price stood back in the first quarter of 2009!

Drop in mortgage rates helped market

The rise in home prices in Franklin and the rest of Massachusetts in the first three months of 2019 is all the more impressive given the significant weakness the MA housing market experienced during the fall of last year when 30-year mortgage rates hit 5%.

The higher rates hurt home buyers’ purchasing power and triggered a sharp drop-off in housing demand last fall.

Fortunately, mortgage rates plummeted as 2018 ended, reinvigorating home sales in the Commonwealth.   The drop in rates continued throughout the first three months of 2019, further boosting home buyers’ purchasing power during the first quarter.

MA home sales volume strong in the first quarter

The stimulative effect on demand of those lower mortgage rates certainly is reflected in the number of homes that changed hands in Massachusetts during the first three months of the year.

After such a weak housing market last fall, it is highly significant that home sales during the first quarter of this year on MLS-PIN exceeded the sales total posted during the first quarter of 2018.  That’s clear proof that housing demand rebounded as mortgage rates fell!  Thanks to the decline in interest rates, this is the fourth year in a row that first quarter home sales on MLS-PIN exceeded the 8,500 mark. 

Outlook for the rest of 2019

How well the MA housing market performs during the rest of 2019 seems dependent on the direction of mortgage rates.  Both the local and national economies appear strong, so a recession this year seems unlikely.  Absent some shock to the US economy from abroad, the only creditable risk to local housing in 2019 would seem to be another rise in mortgage interest rates along the lines of what took place last year.  As we saw last fall, demand for housing withered as mortgage rates neared and then topped five percent.  Unless mortgage rates spike at some point this year, the table appears set for a healthy housing market in Massachusetts for the rest of 2019!  

Copyright ©2019 02038.com

However, a slight decline in single family home sales volume so far this year might arguably be a warning sign of an impending slowdown in the MA market’s upward momentum.  But a closer look at what happened at the start of the last real estate downturn in 2006 seems to indicate that trouble may not yet be on the horizon for today’s strong housing market in Massachusetts.

Home prices heading ever higher

The statewide median single family home sale price in the first 6 months of the year, as reported by MLS-PIN, continued a climb that has been unrelenting since 2013.

The median single family home sale price rose 5.4% during the first half of 2018, compared to 2017’s half-year median.  This was the sixth year in a row of rising midyear median home sale prices, putting MA’s median price 37% above where it stood at the midpoint of 2012. 

Sales volume falters

As recorded on MLS-PIN, statewide single family home sales volume fell during the first 6 months of 2018.

This was the second year in a row that MLS-PIN records show that fewer single family homes changed hands in the Bay State.  This tapering off is fairly minor, leaving midyear sales volume still near record highs.  But the decline could nonetheless be interpreted as evidence of a budding resistance by home buyers to today’s ever-rising home prices.  Let’s take a look back at the last real estate market cycle in MA to see whether the current sales decline could be signaling that there’s a slowdown ahead for Massachusetts real estate.

A home sales slowdown in 2005 – 2006 preceded a sharp downturn

Home sales activity at the top of the last market cycle back in 2005 – 2006 does bear some similarity to recent sales events.  2006 saw the second year in a row that MA single family home sales volume fell.  That 2-year slowdown in sales in 2005 and 2006 was followed by a much more pronounced downturn in 2007 – 2009, which was triggered by the Great Recession.

However a closer comparison of the real estate market of 2006 to current market conditions reveals some very important differences. These differences may indicate that we are not facing a significant market slowdown now for the foreseeable future, despite the recent 2-year decline in home sales volume.

A much larger percentage decline in 2006 than in 2018

On a percentage basis, the home sale slowdown in 2006 was much larger than 2018’s sale sag.  In the first 6 months of 2006, 9.7% fewer single family homes sold on MLS-PIN compared to 2005’s first half total. That’s a sizable drop. In 2018, on the other hand, the midyear sales decline was only 2.4%.  2018’s decline is fairly mild, lessening its potential for future significance.

Many more homes for sale in 2006 than in 2018

The next chart demonstrates another key difference between market conditions in 2006 and 2018: there were vastly more homes for sale in 2006 than there are today!

There were over 30,500 single family homes for sale across Massachusetts on MLS-PIN in July 2006. It was relatively easy to find a home to buy in 2006 simply because there were so many homes for sale.  The 9.4% drop in home sales volume in 2006 can’t be blamed on inadequate supply.  The slowdown in sales in 2006 was very likely due to a pullback in buyer demand, as the market headed toward the Great Recession. In any market, declining demand is a significant warning of an impending downturn in prices.

This July, there are just under 12,000 homes available for purchase on MLS-PIN.  That’s 61% fewer homes for sale now than were available in July 2006! In July 2018, it’s really difficult to find a good home to buy because there are so few homes to choose from.  2018’s mild slump in home sales volume very well may be mostly (or even entirely) due to the current extremely tight inventory.  It is possible that home buyer demand in 2018 may not be faltering at all.

Extremely tight supply getting even tighter in 2018

That buyer demand for homes may not be weakening in 2018 is reinforced by the chart below.  The chart shows current home inventory levels, expressed as months of inventory.  The chart covers a variety of geographic markets in Massachusetts and compares current inventories to supply levels of past years.

The chart above shows just how extremely low the supply of single family homes for sale is in 2018.  (6 months of inventory represents a market in equilibrium.  4 months denotes a seller’s market.)  With only 3 months of supply, or even less, in all the geographic markets shown in the chart above, current conditions in Massachusetts are very much tilted in favor of home sellers!

What’s most significant in the above chart is the fact that housing supply in the broadest, most important markets shown in the chart (Eastern MA and all of Massachusetts) is tighter this July than it was in July 2017.  And July 2017’s supply was lower than it was back in July 2016.  Ever tighter supplies indicate that demand for housing in MA has not been faltering at all.  The slight slowdown in home sales volume in Massachusetts this year seems not to have been due to a fall-off in demand.

With demand for housing apparently intact, Massachusetts does not seem poised at midyear 2018 for significant market weakening or home price declines any time soon.

The housing market in Franklin, MA at midyear 2018

At the halfway point in 2018, the Franklin real estate market is having a banner year. 

Franklin’s single family home median sale price is at a new all-time high.  At $489,999, the median stands 2.5% over the prior high set back in 2006.

It’s the same story with single family home sales volume in town: 2018 has been a great year so far in Franklin!

What does the future hold?

No market – good or bad – stays the same forever.  It makes sense that, at some point in the future, today’s vigorous housing market will soften.  Home sales volume and housing inventory levels will be leading indicators of any future downturn.  As the post discussing the possibility of a Greater Boston Bubble suggests, don’t bet against the MA economy and don’t try to time the market.  Buy (or sell) your home when the time is right for you.  Please contact me if you’d like my help in determining your best moves pertaining to buying or selling real estate!

Copyright ©2018 02038.com

If you don’t know Franklin, MA, check this out: Franklin was recently voted the safest city in Massachusetts for 2018!  Learn more about Franklin here.

Move-in condition

It’s rare to find a condo that is truly move-in ready.  165 Highwood checks that box!  The unit is exceptionally well maintained, with vinyl replacement windows, neutral paint and white woodwork throughout.

The kitchen has a large pantry and convenient pass-through to open concept dining/living room.

Featuring a beautiful brick fireplace, the substantial open space also boasts a slider to private rear common area facing pretty woods.

There’s even a convenient exterior storage shed off the patio.  A half bath completes the first floor.

Two bedrooms, bath and laundry on 2nd floor 

The second floor offers two spacious bedrooms, a Hollywood bath and an in-unit laundry!

The Hollywood bath is bright and modern.

High tech floor plan

Follow the hotlink in the image above or at right for an innovative high tech floor plan for 165 Highwood Drive, Franklin, MA.  Photos are embedded right into the floor plan.  As you go through each room on the plan, you can use the icons to see how each room looks.  Not only that, there is also a furniture placement feature, allowing you to size and place furniture pieces into any room in the home!

Contact Warren Reynolds with questions about this home or to make an appointment to get inside!

Copyright ©2018 02038.com

As shown by the above chart, the number of single family homes for sale in Massachusetts has been on a steep decline for the past ten years.  The standing inventory of available homes in MA now stands a staggering 67% lower than what was for sale in January 2008!

As shown as months of inventory in the chart above, there is an extraordinarily tight supply of available homes in most regions of Massachusetts as 2018 gets underway.  6 months of inventory is typically considered a market in balance.  Less than 4 months of inventory denotes a seller’s market.  Today’s buyers are confronted with inventories of only 1 month in Franklin and 1.3 months in the regional market of surrounding Franklin.  But more importantly, there is only 1.3 months of housing inventory across Eastern Massachusetts and a paltry 1.6 months for all of the Commonwealth.  The fact there there is almost nothing to buy in the broadest markets of the Commonwealth makes “daunting” an apt description of the home search challenge facing would-be Massachusetts home buyers!

Franklin market buoyed by buyers searching for homes farther from Boston

I have posted before on the likely causes of the crushing lack of housing inventory in MA. But whatever the reasons behind it, the dearth of homes for sale in Greater Boston has for the past several years been driving buyers out from the inner Boston suburbs to the I-495 region (and even beyond) in search of affordable housing.  And Franklin’s stats for 2017 certainly reflect this surging outward migration.

As tracked by MLS-PIN, the number of single family homes sold in Franklin, MA during 2017 soared 15% compared to 2016’s healthy total.  This increase is especially impressive in light of the dramatically low housing inventory in town throughout the year.

The 324 sales in 2017 is the highest annual sales total in Franklin in the last 12 years!

Franklin median sale price up as well

Spurred by the high demand for homes, the median sale price of single family homes in Franklin rose nearly 8% in 2017.

At $445,000, Franklin’s median sale price for 2017 is the highest it has been in the last 10 years.

Quite an improvement over prices back during the Great Recession – this makes 2018 a smart time to sell!

If you’d like to know what your home in Franklin, MA is worth in the current market, contact Warren Reynolds for a free, no obligation Home Value Report.

Interested in condos in Franklin, Massachusetts?  Follow the hotlinks to see the 2017 market reports for the Stone Ridge, Chestnut Ridge, Spruce Pond, Highwood and Franklin Crossing condo communities in Franklin, MA.

A quick look at the overall Massachusetts real estate market in 2017

Below, we’ll make a summary review of the overall real estate market in Massachusetts during the year just ended.

Massachusetts single family home sales volume as recorded on MLS-PIN slipped just a bit in 2017 from the record pace of 2016.  However, 2017’s sales volume remained well in excess of what was achieved in any year prior to 2016 going back as far as 2000.

This high sales volume in the face of the low housing supplies in the Bay State during 2017 is remarkable!

MA median sale price rises for 5th year in a row

The median home sale price in Massachusetts was up nicely in 2017.

At $380,000, the median sale price as reported by MLS-PIN stands nearly 30% above 2011’s Great Recession low.

2017’s median is well above the previous high set back in 2005 – great news for MA home sellers in 2018!

Copyright ©2018 02038.com

The average annual sale price of Stone Ridge townhomes reached 284,487 in 2017, a 6.5% increase over 2016’s average. Stone Ridge’s average sale price for 2017 is a sizeable 33.7% above were it was in 2011 at the bottom of the Great Recession.

Unit sales volume strong in 2017

2017 brought more good news for the Stone Ridge Condominiums in Franklin, Massachusetts in terms of the healthy number of units that changed hands.  

Seventeen Stone Ridge units sold on MLS-PIN in 2017.  This was the largest number of Stone Ridge condos to sell in any one year going back to before the Great Recession.

Download the 2017 Stone Ridge sales report

Follow the hyperlink in the image below or at right to download the Stone Ridge Sales Report for 2017.

As you’ll see in the report, the lowest price paid in 2017 was $224,500 for a 1,222 sq ft unit with a detached garage and an unfinished basement. At the other end of the price spectrum at Stone Ridge during 2017 was the $326,500 paid for a thoroughly renovated 1,730 sq ft end unit offering a first floor master bedroom suite and two additional bedrooms on the second floor.

The Stone Ridge Condominiums in Franklin, Massachusetts are a great place to call home!  Contact Realtor Warren Reynolds for more information or to see any unit for sale in this fine condo community!

Copyright ©2018 02038.com

That’s the highest the annual average sale price has been at Spruce Pond since 2006.  The Spruce Pond average price now stands 20.5% higher than it did at its Great Recession low of $280,300 set back in 2012.

Three Spruce Pond townhomes sold in 2017

The number of units sold at Spruce Pond Village fell markedly in 2017. 

Only three units sold, compared to the six units that changed hands the previous year.  2017’s sales volume at Spruce Pond matches the low annual sales totals seen in 2011 and 2012.

Download 2017 Spruce Pond Village Sales Report

You can access facts and photos of 2017’s sales at the Spruce Pond Village condominiums in Franklin, Massachusetts by following the hotlink at left or in the image below.

As you’ll find with most homes in Massachusetts, buyers pay a premium for interior updates. 

The lowest sale for the year at Spruce Pond was the $305,000 paid for an 1,823 unit with a one car attached garage and an unfinished basement.  That unit’s kitchen was the original one installed when the unit was built and needed updating.

The top sale in 2017 at Spruce Pond was a 1,943 sq ft end unit with a 2 car attached garage that had a beautiful new kitchen. That unit sold for $364,900.

Follow the hotlink at right to learn more about the Spruce Pond Village condominiums in Franklin, MA.

Copyright ©2018 02038.com