Is Franklin, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Franklin is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Franklin has remained a Seller's Market.

Key Takeaway

Franklin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Franklin, IN

How much do homes in Franklin, IN cost?

Median Sold Price

$271,000

$158/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$16,000(+6.3%)

Key Takeaway

Homes in Franklin have sold for 6.3% more than they did a year ago.

Summary: The median home sold price in Franklin was $271,000 in May 2024, up 6.3% from last year, and the median price per square foot was $158.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $286.3K$105K
-63.3%
2 $173.5K$189.9K
+9.5%
3 $240K$250K
+4.2%
4 $300K$319.9K
+6.6%
5+ $377.5K$412.5K
+9.3%

Summary: Franklin housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 63.3%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 9.3%.

Median Sold Price Compared To Nearby Cities

Franklin Township
+8.4%
Needham Township
+7.3%
Franklin
+6.3%
Pleasant Township
-1.6%
Whiteland
-5.6%

Housing Supply in Franklin, IN

How many homes are available in Franklin, IN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
114125+9.6%

Summary: The Franklin real estate market had 125 homes for sale in May 2024, a 9.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1113
+18.2%
3 6476
+18.8%
4 3229
-9.4%
5+ 77
0.0%

Summary: The Franklin 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 increased by 18.2%, 3 bedroom homes increased by 18.8%, 4 bedroom homes decreased by 9.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
3536+2.9%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Franklin, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.

Summary: A total of 36 homes were sold or pending in Franklin in May 2024, up by 2.9% month-over-month. Of the 36 sold homes, 58% were sold under asking, 14% were sold at asking, and 28% were sold over asking.

Days on Market for Franklin, IN

How long does it take to sell a home in Franklin, IN?

Average Sale Time

May 2023May 2024CHANGE
33 Days26 Days-19.8%

Summary: Homes in Franklin had an average of 26 days on market in May 2024, down by 19.8% compared to last year.

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Franklin are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 36 homes were sold in Franklin; 75% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Franklin, IN

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