During the 1st quarter of 2018, real estate activity in Franklin saw large increases in both total sales volume and average sales price.
There was a 15% decrease in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Franklin during the 1st quarter 2018. 1,298 land documents were recorded versus 1,528 during the first quarter 2017.
The total volume of real estate sales in Franklin during the 1st quarter 2018 was $146,580,883, a 271% increase from the same time period in 2017. The average sale price of homes and commercial property also increased 301% in Franklin. The average sale price was $1,465,808. These numbers were impacted by 4 separate commercial property transactions, each over $10 million dollars, that were recorded during the first quarter 2018.
The number of mortgages recorded (230) on Franklin properties during the 1st quarter 2018 was down 19% from the previous year. However, total mortgage indebtedness increased 160% to $200,297,264 during the same period. This number was significantly impacted by a $101.5 million mortgage taken out in January 2018 against a Franklin commercial property.
There were 3 foreclosure deeds filed against Franklin properties during the 1st quarter 2018 compared to 2 foreclosure deed filings during the 1st quarter 2017.
Finally, homestead activity decreased 6% in Franklin during the 1st quarter 2018 with 127 homesteads filed compared to 135 during the same time period in 2017.