Is Franconia Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Franconia Township has remained a Seller's Market.
Housing Prices in Franconia Township, PA
How much do homes in Franconia Township, PA cost?
Median Sold Price
$495,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Franconia Township was $495,000 in May 2024, up 14.5% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $405.5K | $465K | +14.7% |
3 Bedrooms | $407.4K | $427K | +4.8% |
4 Bedrooms | $571.2K | $615K | +7.7% |
5+ Bedrooms | $656.2K | $746K | +13.7% |
Summary: Franconia Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.7%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 13.7%.
Median Sold Price Compared To Nearby Cities
Souderton | $345K | $415K | +20.3% |
Franconia Township | $432.5K | $495K | +14.5% |
Telford | $364.7K | $389.9K | +6.9% |
Telford | $388K | $387K | -0.3% |
Housing Supply in Franconia Township, PA
How many homes are available in Franconia Township, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 25 | +31.6% |
Summary: The Franconia Township real estate market had 25 homes for sale in May 2024, a 31.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 3 | -25.0% |
3 Bedrooms | 6 | 8 | +33.3% |
4 Bedrooms | 8 | 11 | +37.5% |
5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Franconia Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 6 | +200.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Franconia Township in May 2024, up by 200.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for Franconia Township, PA
How long does it take to sell a home in Franconia Township, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
12 Days | 16 Days | +32.2% |
Summary: Homes in Franconia Township had an average of 16 days on market in May 2024, up by 32.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Franconia Township; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.