Average House Price In Franklin County Less Than Five of Six Prior Years - The Missourian: Local News

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Average House Price In Franklin County Less Than Five of Six Prior Years

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Posted: Thursday, April 17, 2014 12:00 pm

The average house selling price in Franklin County for the first quarter of 2014 was less than what it has been for five of the six prior years.

For the first quarter of this year, the average selling price of homes in Franklin County was $121,107, according to figures provided by Franklin County Board of Realtors President Matt Borgmann.

Since 2008, the average home selling price in the first quarter has only been lower once. That was in 2012 when it was $119,839.

In other years, the average home selling prices in the first quarter were as follows: 2013, $124,400; 2011, $131,644; 2010, $126,104; 2009, $135,046; and 2008, $134,640.

The difference between what homes have sold for versus the list prices, shows there is some room for buyers to negotiate. In the first three months of the year the average selling price was $6,980 less than the average list price, the figures show.

More homes have sold in the first quarter of 2014 compared to five of the six past years.

“There’s a lot of movement in the market right now,” Borgmann said.

In the first quarter of this year, 199 homes have sold in Franklin County, compared to 219 in the same time period last year.

Borgmann said he thinks more homes would have sold in the last quarter had the winter not been so severe.

The number of homes sold in the first quarter of this year is still more than the same time period for 2008-2012.

In 2012, 188 sold in the first quarter; 2011, 151; 2010, 183; 2009, 153; and 2008, 191.

The number of days on the market for the first three months of 2014 was 132, which shows a continued decline. In 2013 the average days on the market for the first quarter was 134; 2012, 155; 2011, 133; 2010, 147; 2009, 141; and 2008, 135.

With the improving weather, Borgmann said he expects the average number of days on the market to go down. The second quarter is a better time of year for the housing market, Borgmann said.

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