During the 3rd quarter of 2017, real estate activity in Franklin saw decreases in both total sales volume and average sales price.
There was a 19% decrease in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Franklin during the 3rd quarter 2017. 1,727 land documents were recorded versus 2,123 during the third quarter 2016.
The total volume of real estate sales in Franklin during the 3rd quarter 2017 was $70,475,206, a 10% decrease from the same time period in 2016. The average sale price of homes and commercial property also decreased 7% in Franklin. The average sale price was $429,726.
The number of mortgages recorded (370) on Franklin properties during the 3rd quarter 2017 was down 28% from the previous year. However, total mortgage indebtedness increased 218% to $1,044,106,360 during the same period. This number was significantly impacted by a $951 million mortgage taken out in September 2017 against a Franklin retirement community.
There were 6 foreclosure deeds filed against Franklin properties during the 3rd quarter 2017 compared to 4 foreclosure deed filings during the 3rd quarter 2016.
Finally, homestead activity decreased 5% in Franklin during the 3rd quarter 2017 with 175 homesteads filed compared to 185 during the same time period in 2016.