Is Franklin County, 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, 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, PA
How much do homes in Franklin County, PA cost?
Median Sold Price
$268,781
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Franklin County have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in Franklin County was $268,781 in May 2024, up 3.5% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $128K | $109.4K | -14.5% |
| 2 Bedrooms | $190K | $205K | +7.9% |
| 3 Bedrooms | $245.7K | $254.6K | +3.6% |
| 4 Bedrooms | $319.9K | $344.9K | +7.8% |
| 5+ Bedrooms | $385K | $438.9K | +14.0% |
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 14.5%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 14%.
Median Sold Price Compared To Nearby Counties
| Washington County | $282.5K | $310K | +9.7% |
| Cumberland County | $281.8K | $300.5K | +6.7% |
| Adams County | $277K | $292K | +5.4% |
| Franklin County | $259.6K | $268.7K | +3.5% |
| Fulton County | $217K | $210.5K | -3.0% |
Housing Supply in Franklin County, PA
How many homes are available in Franklin County, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 420 | 478 | +13.8% |
Summary: The Franklin County real estate market had 478 homes for sale in May 2024, a 13.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 42 | 56 | +33.3% |
| 3 Bedrooms | 215 | 233 | +8.4% |
| 4 Bedrooms | 116 | 135 | +16.4% |
| 5+ Bedrooms | 45 | 53 | +17.8% |
Summary: The Franklin County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes increased by 17.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 94 | 98 | +4.3% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
42 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin County, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 98 homes were sold or pending in Franklin County in May 2024, up by 4.3% month-over-month. Of the 98 sold homes, 28% were sold under asking, 30% were sold at asking, and 43% were sold over asking.
Days on Market for Franklin County, PA
How long does it take to sell a home in Franklin County, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 30 Days | +21.9% |
Summary: Homes in Franklin County had an average of 30 days on market in May 2024, up by 21.9% compared to last year.
Breakdown of Home Sale Times
68 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Franklin County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 98 homes were sold in Franklin County; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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