Is Franklin County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Franklin County is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Franklin County, NC

How much do homes in Franklin County, NC cost?

Median Sold Price

$372,508

$198/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$5,458(-1.4%)

Key Takeaway

Homes in Franklin County have sold for 1.4% less than they did a year ago.

Summary: The median home sold price in Franklin County was $372,508 in May 2024, down 1.4% from last year, and the median price per square foot was $198.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $204.9K$130K
-36.6%
2 $226K$228K
+0.9%
3 $349.9K$344.7K
-1.5%
4 $432K$482K
+11.6%
5+ $428.4K$490K
+14.4%

Summary: Franklin County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.6%, 2 bedroom homes increased by 0.9%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes increased by 14.4%.

Median Sold Price Compared To Nearby Counties

Nash County
+6.0%
Vance County
0.0%
Granville County
-0.7%
Franklin County
-1.4%

Housing Supply in Franklin County, NC

How many homes are available in Franklin County, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
358369+3.1%

Summary: The Franklin County real estate market had 369 homes for sale in May 2024, a 3.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 56
+20.0%
2 2017
-15.0%
3 206218
+5.8%
4 110107
-2.7%
5+ 1721
+23.5%

Summary: The Franklin County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 15%, 3 bedroom homes increased by 5.8%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes increased by 23.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
7172+1.4%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

31 Homes Were Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Franklin County, expect to pay close to the asking price. 43.1% of homes here sold near the asking price last month.

Summary: A total of 72 homes were sold or pending in Franklin County in May 2024, up by 1.4% month-over-month. Of the 72 sold homes, 26% were sold under asking, 43% were sold at asking, and 31% were sold over asking.

Days on Market for Franklin County, NC

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

Average Sale Time

May 2023May 2024CHANGE
90 Days34 Days-62.0%

Summary: Homes in Franklin County had an average of 34 days on market in May 2024, down by 62% compared to last year.

Breakdown of Home Sale Times

55 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 72 homes were sold in Franklin County; 76% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 13% 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 County, NC

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What housing markets are near Franklin County, NC?