$5,225 Closing Credit*
$440,000
3,174 SqFt
5 Beds
•3 Full Baths, 1 Partial
Rajwinder Kaur, Listing Office: Diamond Realty, Inc
Is South Franklin, IN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, South Franklin was a Seller's Market.
Key Takeaway
South 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 South Franklin, IN
How much do homes in South Franklin, IN cost?
Median Sold Price
$325,000
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$11,250(+3.6%)
Key Takeaway
Homes in South Franklin have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in South Franklin was $325,000 in November 2024, up 3.6% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $220K | $247.5K | +12.5% |
| 3 Bedrooms | $275K | $270.5K | -1.6% |
| 4 Bedrooms | $350K | $360K | +2.9% |
| 5+ Bedrooms | $425K | $430K | +1.2% |
Summary: South Franklin housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 1.2%.
Housing Supply in South Franklin, IN
How many homes are available in South Franklin, IN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 87 | 84 | -3.4% |
Summary: The South Franklin real estate market had 84 homes for sale in November 2024, a 3.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 10 | -9.1% |
| 3 Bedrooms | 27 | 28 | +3.7% |
| 4 Bedrooms | 35 | 32 | -8.6% |
| 5+ Bedrooms | 14 | 14 | 0.0% |
Summary: The South 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 9.1%, 3 bedroom homes increased by 3.7%, 4 bedroom homes decreased by 8.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 13 | -13.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Franklin, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in South Franklin in November 2024, down by 13.3% month-over-month. Of the 13 sold homes, 62% were sold under asking, 8% were sold at asking, and 31% were sold over asking.
Days on Market for South Franklin, IN
How long does it take to sell a home in South Franklin, IN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 22 Days | 47 Days | +114.3% |
Summary: Homes in South Franklin had an average of 47 days on market in Nov 2024, up by 114.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Franklin are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 13 homes were sold in South Franklin; 62% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
Listings courtesy of Metropolitan Indianapolis Board of REALTORS® MLS as distributed by MLS GRID.