$95,000
Land
Listing Office: LaBelle Real Estate Group Inc
Is Franconia Township, MN 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, Franconia Township has remained a Seller's Market.
Key Takeaway
Franconia Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franconia Township, MN
How much do homes in Franconia Township, MN cost?
Median Sold Price
$480,950
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$29,050(-5.7%)
Key Takeaway
Homes in Franconia Township have sold for 5.7% less than they did a year ago.
Summary: The median home sold price in Franconia Township was $480,950 in October 2024, down 5.7% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $320K | $470K | +46.9% |
| 3 Bedrooms | $356.2K | $476.9K | +33.9% |
| 4 Bedrooms | $590K | $485K | -17.8% |
| 5+ Bedrooms | - | $669K | N/A |
Summary: Franconia Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 46.9%, 3 bedroom homes increased by 33.9%, 4 bedroom homes decreased by 17.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Osceola | $325K | $325K | 0.0% |
| Franconia Township | $510K | $480.9K | -5.7% |
| Farmington | $370K | $281.9K | -23.8% |
Housing Supply in Franconia Township, MN
How many homes are available in Franconia Township, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Summary: The Franconia Township real estate market had 11 homes for sale in October 2024, the same as 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 | 7 | 6 | -14.3% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Franconia 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 decreased by 14.3%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Franconia Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Franconia Township in October 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Franconia Township, MN
How long does it take to sell a home in Franconia Township, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 65 Days | 75 Days | +15.4% |
Summary: Homes in Franconia Township had an average of 75 days on market in Oct 2024, up by 15.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Franconia Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 3 homes were sold in Franconia Township; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
