$5,936 Closing Credit*
$499,900
1,800 SqFt
3 Beds
•2 Full Baths
#73320731, Matthew Kelly, Listing Office: LAER Realty Partners
Is Franklin, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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, MA
How much do homes in Franklin, MA cost?
Median Sold Price
$666,633
$316/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$59,300(+9.8%)
Key Takeaway
Homes in Franklin have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in Franklin was $666,633 in November 2024, up 9.8% from last year, and the median price per square foot was $316.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $207.5K | $223.7K | +7.8% |
| 2 Bedrooms | $392.2K | $418.7K | +6.8% |
| 3 Bedrooms | $552.5K | $610K | +10.4% |
| 4 Bedrooms | $792.5K | $825K | +4.1% |
| 5+ Bedrooms | $777K | $1.0M | +35.1% |
Summary: Franklin housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.8%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 35.1%.
Median Sold Price Compared To Nearby Cities
| Norfolk | $709.6K | $811.8K | +14.4% |
| Franklin | $607.3K | $666.6K | +9.8% |
| Franklin Town | $607.3K | $666.6K | +9.8% |
| Bellingham | $479K | $500.5K | +4.5% |
| Medway | $679.5K | $692.5K | +1.9% |
Housing Supply in Franklin, MA
How many homes are available in Franklin, MA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 87 | 75 | -13.8% |
Summary: The Franklin real estate market had 75 homes for sale in November 2024, a 13.8% 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 | 23 | 21 | -8.7% |
| 3 Bedrooms | 27 | 24 | -11.1% |
| 4 Bedrooms | 26 | 21 | -19.2% |
| 5+ Bedrooms | 11 | 9 | -18.2% |
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 8.7%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 19.2%, and 5+ bedroom homes decreased by 18.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 | 26 | 0.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin, you could pay more than the asking price. 57.7% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in Franklin in November 2024, the same as the previous month. Of the 26 sold homes, 38% were sold under asking, 4% were sold at asking, and 58% were sold over asking.
Days on Market for Franklin, MA
How long does it take to sell a home in Franklin, MA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 31 Days | 37 Days | +16.6% |
Summary: Homes in Franklin had an average of 37 days on market in Nov 2024, up by 16.6% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Franklin are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 26 homes were sold in Franklin; 62% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
