During the 3rd quarter of 2018, real estate activity in Franklin saw increases in both total sales volume and average sales price.
There was a 7% increase in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Franklin during the 3rd quarter 2018. 1,852 land documents were recorded versus 1,725 during the third quarter 2017.
The total volume of real estate sales in Franklin during the 3rd quarter 2018 was $87,186,575, a 24% increase from the same time period in 2017. The average sale price of homes and commercial property also increased 4% in Franklin. The average sale price was $447,110.
The number of mortgages recorded (342) on Franklin properties during the 3rd quarter 2018 was down 8% from the previous year. Also, total mortgage indebtedness decreased 87% to $134,222,329 during the same period. The percentage decrease was due to a $951 million mortgage taken out against a Franklin multi-family senior residence that was recorded in September 2017.
There were 3 foreclosure deeds filed against Franklin properties during the 3rd quarter 2018 compared to 6 foreclosure deeds filed during the 3rd quarter 2017.
Finally, homestead activity increased 14% in Franklin during the 3rd quarter 2018 with 199 homesteads filed compared to 175 during the same time period in 2017.