Is Franklin, LA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Franklin was a Seller's Market.
Key Takeaway
Franklin is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Franklin, LA
How much do homes in Franklin, LA cost?
Median Sold Price
$120,000
$78/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Key Takeaway
The sold price of homes in Franklin has remained the same since last year.
Summary: The median home sold price in Franklin was $120,000 in May 2024, the same as last year, and the median price per square foot was $78.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $20.5K | N/A |
| 2 Bedrooms | $90K | $78.5K | -12.8% |
| 3 Bedrooms | $119.5K | $120K | 0.4% |
| 4 Bedrooms | $212K | $260.7K | +23.0% |
| 5+ Bedrooms | $722K | $280K | -61.2% |
Summary: Franklin 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 decreased by 12.8%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 23%, and 5+ bedroom homes decreased by 61.2%.
Housing Supply in Franklin, LA
How many homes are available in Franklin, LA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 26 | +13.0% |
Summary: The Franklin real estate market had 26 homes for sale in May 2024, a 13.0% 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 15 | 18 | +20.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 3 | 3 | 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 100%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Franklin in May 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Franklin, LA
How long does it take to sell a home in Franklin, LA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 110 Days | 47 Days | -57.2% |
Summary: Homes in Franklin had an average of 47 days on market in May 2024, down by 57.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Franklin are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Franklin; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the IDX Program of the REALTORS® Association of Acadiana’s MLS. Real Estate listings held by other brokerage firms are marked with the MLS approved icon for IDX. The materials contained within this page may not be reproduced without the express written consent of The Realtor® Association of Acadiana. The information contained within this page is for personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but is not guaranteed and should be verified by personal inspection or with the appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. The materials contained within this page may not be reproduced without the express written consent of this broker. Some real estate firms do not participate in Internet Data Exchange® and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Some or all of the listings displayed may not belong to the firm whose web site is being visited. 
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