• April 2013 Franklin WI Real Estate Market Update

    227 views 6 years ago
    Hi, Troy Chowanec with RE/MAX Realty 100. We're in the middle of April here and we're just coming off some really crazy weather. It was snowing yesterday. Today is a beautiful day. Right now I am over in Whispering Woods Subdivision. It's a new Mark Carstensen Subdivison. It's just south of Drexel Avenue off of 68th Street. I wanted to bring you some current market updates for the City of Franklin specifically. Currently there's 109 single family homes for sale in the area. That's eight more than we had in February that's two months ago. So that's not a lot of increased inventory from my perspective. 31 of the properties though currently have accepted offers. That's about 1/3 and that's more than double what we had 2 months ago when I last reported. 18 homes are also in the pending state so those are also off the market and are not really available for viewing. Right now the high priced home on the market is 8347 Spindletop. The asking price is $899,000 and it has been on and off the market since July 2008. They actually started back in 2008 at $1,600,000. So from that perspective the house is probably priced at a really good deal. I feel really bad for those sellers. The house is assessed right now at $891,400 so they are priced a little more than the assessed value but that is pretty normal for this market. The low priced home right now for sale in Franklin is over at 8801 S. 83rd Street. That house is priced at $80,000. Now it does need about $20,000 worth of foundation work. I have been in that home and so who ever buys that is going to have to stick some money into it. But I would think they are still going to get a great deal because the house is assessed at $187,000. So even with the repairs they should come out on the positive side there. The median priced home right now is over at 9151 S. 42nd Street. The asking price is $259,800 its been on the market only 10 days and it's got an accepted offer on it. The last time this home sold was only in 2008 for $253,000 and it's currently assessed at $224,600. It's really encouraging when you see some homes on the market for such a short period of time with an asking price of more than assessed value and getting offers on them. The average asking price overall in Franklin right now is $295,545. The average square footage of the home on the market right now is 2124 square feet and they have been on the market an average of 179 days. Now in the month of March we had 18 homes that sold and the average sale price was $262,466 and the average sold price was $256,419. So that is 98% of the last asking price that was received for the 18 homes that sold in March. The average square footage was 2010 square feet and the average days on the market was 133. So a little less on the square footage side compared with what's currently in our inventory right now and on the market significantly less than what is in our inventory right now. The high price sale for the month of March was at 8643 S. Parkland Court. It was on the market 11 days and sold for $415,000. It has an assessed value of $454,800 so this home sold for considerably less than its assessed value. The low priced home sale was at 7166 S. 49th Street. It was on the market 177 days and sold for $54,000 more than $100,000 less than its assessed value and it last sold for $135,000 back in 2007. The median priced home sale was a home over at 7010 S. 122nd Street. It was on the market 159 days and it sold for $235,000. The last time this home sold was just late this last year for $85,200. This was a flip property. Someone, an investor came in bought the property, made a whole bunch of repairs and made it really nice and then when ahead and re-sold it. I was in this property and they did a really great job on the home. If you have specific questions about selling your home in Franklin or if you would like to buy a home feel free to give me a call. Again my name is Troy Chowanec with RE/MAX Realty 100 I'd love to hear from you. Send me an email or give me a phone call I'll answer my phone and be happy to talk to you.


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