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 November 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

$274,925

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$8,425(+3.2%)

Key Takeaway

Homes in Franklin have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in Franklin was $274,925 in November 2024, up 3.2% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $120K$170K
+41.7%
2 $180K$205K
+13.9%
3 $250K$255.6K
+2.3%
4 $315K$319.9K
+1.6%
5+ $399K$390K
-2.3%

Summary: Franklin housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.7%, 2 bedroom homes increased by 13.9%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 2.3%.

Median Sold Price Compared To Nearby Cities

Needham Township
+7.0%
Whiteland
+4.6%
Pleasant Township
+4.5%
Franklin
+3.2%
Franklin Township
+3.2%

Housing Supply in Franklin, IN

How many homes are available in Franklin, IN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
128116-9.4%

Summary: The Franklin real estate market had 116 homes for sale in November 2024, a 9.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 22
0.0%
2 1615
-6.3%
3 7468
-8.1%
4 2824
-14.3%
5+ 87
-12.5%

Summary: The Franklin housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 6.3%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3436+5.9%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

10 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. 44.4% of homes here sold below asking price last month.

Summary: A total of 36 homes were sold or pending in Franklin in November 2024, up by 5.9% month-over-month. Of the 36 sold homes, 44% were sold under asking, 28% 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

Nov 2023Nov 2024CHANGE
31 Days29 Days-7.4%

Summary: Homes in Franklin had an average of 29 days on market in Nov 2024, down by 7.4% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

8 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 November 2024, 36 homes were sold in Franklin; 67% of homes were sold within 30 days, 22% 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 17 Days Ago

Newest Listings in Franklin, IN

Nearby Markets to Franklin, IN

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