$8,491 Closing Credit*
$715,000
2,643 SqFt
4 Beds
•2 Full Baths, 1 Partial
Enid Fanfair, Listing Office: Century 21 Professionals Clarkston
Is Franklin Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Franklin Township has remained a Seller's Market.
Key Takeaway
Franklin Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franklin Township, MI
How much do homes in Franklin Township, MI cost?
Median Sold Price
$685,000
$238/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$248,750(+57.0%)
Key Takeaway
Homes in Franklin Township have sold for 57% more than they did a month ago.
Summary: The median home sold price in Franklin Township was $685,000 in October 2024, up 57% from last month, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $426K | $613.7K | +44.1% |
| 4 Bedrooms | $1.0M | $685K | -33.5% |
| 5+ Bedrooms | - | - | N/A |
Summary: Franklin Township housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 44.1%, 4 bedroom homes decreased by 33.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Hancock | $160K | $412.5K | +157.8% |
| Franklin Township | $436.2K | $685K | +57.0% |
| Houghton | $280K | $239.5K | -14.5% |
Housing Supply in Franklin Township, MI
How many homes are available in Franklin Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 29 | +38.1% |
Summary: The Franklin Township real estate market had 29 homes for sale in October 2024, a 38.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 8 | 15 | +87.5% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Franklin Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 87.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Township, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Franklin Township in October 2024, up by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for Franklin Township, MI
How long does it take to sell a home in Franklin Township, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 Days | 42 Days | +511.4% |
Summary: Homes in Franklin Township had an average of 42 days on market in Oct 2024, up by 511.4% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Franklin Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in Franklin Township; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.