$8,311 Closing Credit*
$699,877
1,090 SqFt
2 Beds
•1 Full Bath, 1 Partial
#73314438, MG Group, Listing Office: Century 21 North East
Is Franklin, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$680,000
$315/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$82,500(+13.8%)
Key Takeaway
Homes in Franklin have sold for 13.8% more than they did a year ago.
Summary: The median home sold price in Franklin was $680,000 in October 2024, up 13.8% from last year, and the median price per square foot was $315.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $207.5K | $223.7K | +7.8% |
| 2 Bedrooms | $413.5K | $405K | -2.1% |
| 3 Bedrooms | $535K | $610K | +14.0% |
| 4 Bedrooms | $785K | $820K | +4.5% |
| 5+ Bedrooms | $801K | $1.0M | +25.8% |
Summary: Franklin housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.8%, 2 bedroom homes decreased by 2.1%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 25.8%.
Median Sold Price Compared To Nearby Cities
| Franklin | $597.5K | $680K | +13.8% |
| Franklin Town | $597.5K | $680K | +13.8% |
| Norfolk | $711.7K | $801.3K | +12.6% |
| Medway | $657.5K | $697.5K | +6.1% |
| Bellingham | $479K | $500K | +4.4% |
Housing Supply in Franklin, MA
How many homes are available in Franklin, MA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 69 | 87 | +26.1% |
Summary: The Franklin real estate market had 87 homes for sale in October 2024, a 26.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 14 | 24 | +71.4% |
| 3 Bedrooms | 23 | 28 | +21.7% |
| 4 Bedrooms | 23 | 26 | +13.0% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Franklin housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 71.4%, 3 bedroom homes increased by 21.7%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 23 | +27.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were 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. 65.2% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in Franklin in October 2024, up by 27.8% month-over-month. Of the 23 sold homes, 26% were sold under asking, 9% were sold at asking, and 65% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 19 Days | -3.0% |
Summary: Homes in Franklin had an average of 19 days on market in Oct 2024, down by 3% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
4 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 October 2024, 23 homes were sold in Franklin; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
