Franklin Massachusetts 2009 Homes and Condos Sold

The Franklin, MA real estate report indicates that there were 265 homes sold in 2009 as compared to 240 in 2008. This represents a 10% increase in transactions. The average selling prices decreased  from $424018 in 2008 to $418455 in 2009, a 1% decline in value. The days on market dropped -10 % from 126 to 113.  This activity reflects the market trend of activity at the entry level.  First time homebuyers impacted the market as incentives motivated more consumers.  The move-up market remained somewhat dormant as the economy delayed the buying decisions in this segment of the market.

The Franklin, MA condo activity reports 100 units sold in 2009 as compared to 93 in 2008. This represents a 8% increase in the number of condos sold. The average sales price dropped sharply from $271599 in 2008 to $244572 in 2009, a 10% decline in value. The days on market changed -11 % from 175 to 156.

Values have dropped to a level whereby tenants can own the condo they are renting for the same "out of pocket costs".  This is due to the tax benefits and the historically low interest rates.

The activity in the first six months of 2010 report an average sales price of $401,031 which indicates the market is still in decline. The median sales price was $380,000 further supporting the fact that the tax credits offered stimulated activity at the entry level while the economy hampered the higher price ranges.

The condo market is improving in 2010 with the average sales prices reported at $280,466.  In 2009, the average prices were 22% lower which is an unusual trend for most communities in Massachusetts.