April Home Sale History Franklin MA

20 single family homes sold in Franklin, MA during April, 2009 according to figures available on MLSPIN, the predominate MLS serving Massachusetts.

April 2009’s  stronger home sales in Franklin are a welcome improvement over April sale volume in 2008 (15 homes sold) and 2007 (17 homes sold).

At this point, it would be grossly premature to call this improvement a trend of any significance; the overall Massachusetts real estate market remained subdued in April 2009.  But it is very encouraging to see an upswing in Franklin home sales following the abysmally low sale volume experienced in Franklin last February.

Franklin MA Home Sales April 2009

Three of the highest priced house sales in Franklin, MA for April 2009 clustered in the $500,000s.  These sales represent houses that are the “meat and potatoes” of the Franklin MA real estate market.

Franklin’s housing stock is loaded with young colonial-style homes in subdivisions, reflecting the single family home building boom that transformed Franklin from the mid-1990s into the early years of the current decade.

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In contrast, the inventory of Franklin, MA homes for sale remained essentially unchanged this month from April 2008’s supply.   This compares to an 8.1% inventory decline in the regional market surrounding Franklin, MA for the same period.

The chart above shows the supply of single family homes in the three MA markets tracked by this report: the entire Commonwealth of Massachusetts, the regional market around Franklin, MA and the Town of Franklin, Mass itself.

As illustrated by the chart, Franklin currently has 9.4 month supply of single family homes for sale, while the regional Franklin market carries 11.3 months’ worth and the entire Commonwealth has 10.3 months of supply. 

Inventory levels are one indicator of the health and direction of nearly any real estate market.   So it is encouraging that inventories in the select Massachusetts markets followed by this report are generally trending lower!

On the condominium side of the residential housing market, supply in Franklin, MA continued to balloon, rising 74.4% in April 2009 compared to April 2008.  Tellingly, inventory levels in the Franklin regional market and the overall MA condo market declined slightly in the same time period.

At a full two years of inventory of condo supply on hand, Franklin’s condo market is decidedly burdened with excess supply.  The unhealthy lack of balance between condo supply and demand in Franklin can justly be attributed to the many new townhome construction projects in town.

A startling 61.7% (76 units) of the 123 condominiums and townhome units currently for sale in Franklin, MA are new construction offerings built on spec.

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