Is Franklin County, TN 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 County was a Seller's Market.
Key Takeaway
Franklin County 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 County, TN
How much do homes in Franklin County, TN cost?
Median Sold Price
$299,950
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Franklin County have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Franklin County was $299,950 in May 2024, up 3.4% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $195K | +77.3% |
| 2 Bedrooms | $170K | $199.9K | +17.6% |
| 3 Bedrooms | $278.4K | $291.9K | +4.8% |
| 4 Bedrooms | $582.5K | $492.5K | -15.5% |
| 5+ Bedrooms | $571.5K | $629.3K | +10.1% |
Summary: Franklin County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 77.3%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 15.5%, and 5+ bedroom homes increased by 10.1%.
Median Sold Price Compared To Nearby Counties
| Moore County | $355K | $475K | +33.8% |
| Grundy County | $290K | $325K | +12.1% |
| Lincoln County | $232.6K | $250K | +7.5% |
| Coffee County | $285.7K | $300K | +5.0% |
| Franklin County | $289.9K | $299.9K | +3.4% |
Housing Supply in Franklin County, TN
How many homes are available in Franklin County, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 330 | 348 | +5.5% |
Summary: The Franklin County real estate market had 348 homes for sale in May 2024, a 5.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 7 | 0.0% |
| 2 Bedrooms | 37 | 34 | -8.1% |
| 3 Bedrooms | 182 | 190 | +4.4% |
| 4 Bedrooms | 85 | 90 | +5.9% |
| 5+ Bedrooms | 19 | 27 | +42.1% |
Summary: The Franklin County 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 8.1%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 42.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 60 | 50 | -16.7% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin County, you may be able to get a good deal. 48.9% of homes here sold below asking price last month.
Summary: A total of 50 homes were sold or pending in Franklin County in May 2024, down by 16.7% month-over-month. Of the 47 sold homes, 49% were sold under asking, 30% were sold at asking, and 21% were sold over asking.
Days on Market for Franklin County, TN
How long does it take to sell a home in Franklin County, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 42 Days | 63 Days | +49.5% |
Summary: Homes in Franklin County had an average of 63 days on market in May 2024, up by 49.5% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
15 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, 50 homes were sold in Franklin County; 48% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ 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 deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2024 Greater Chattanooga Association of REALTORS®.