$7,005 Closing Credit*
$589,900
1,344 SqFt
3 Beds
•2 Full Baths
#73307854, Cheryl Luccini, Listing Office: Keller Williams Elite
Is Franklin, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 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
$671,600
$312/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$77,433(+13.0%)
Key Takeaway
Homes in Franklin have sold for 13% more than they did a year ago.
Summary: The median home sold price in Franklin was $671,600 in September 2024, up 13% from last year, and the median price per square foot was $312.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | $227.5K | +11.0% |
| 2 Bedrooms | $406K | $410K | +1.0% |
| 3 Bedrooms | $525.5K | $616K | +17.2% |
| 4 Bedrooms | $777.5K | $820K | +5.5% |
| 5+ Bedrooms | $801K | $1.0M | +25.8% |
Summary: Franklin housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11%, 2 bedroom homes increased by 1%, 3 bedroom homes increased by 17.2%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 25.8%.
Median Sold Price Compared To Nearby Cities
| Franklin | $594.1K | $671.6K | +13.0% |
| Franklin Town | $594.1K | $671.6K | +13.0% |
| Medway | $620K | $700K | +12.9% |
| Norfolk | $715K | $789.9K | +10.5% |
| Bellingham | $470K | $490K | +4.3% |
Housing Supply in Franklin, MA
How many homes are available in Franklin, MA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 75 | 67 | -10.7% |
Summary: The Franklin real estate market had 67 homes for sale in September 2024, a 10.7% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 14 | 13 | -7.1% |
| 3 Bedrooms | 24 | 24 | 0.0% |
| 4 Bedrooms | 24 | 20 | -16.7% |
| 5+ Bedrooms | 13 | 9 | -30.8% |
Summary: The Franklin housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 30.8%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 35 | 17 | -51.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin, you could pay more than the asking price. 47.1% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Franklin in September 2024, down by 51.4% month-over-month. Of the 17 sold homes, 35% were sold under asking, 18% were sold at asking, and 47% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 16 Days | 21 Days | +33.8% |
Summary: Homes in Franklin had an average of 21 days on market in Sep 2024, up by 33.8% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 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 September 2024, 17 homes were sold in Franklin; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
