Is Franklin Township, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Franklin Township was a Seller's Market.
Housing Prices in Franklin Township, NC
How much do homes in Franklin Township, NC cost?
Median Sold Price
$420,000
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Franklin Township was $420,000 in May 2024, up 65.9% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $195K | $134.5K | -31.0% |
2 Bedrooms | $249.9K | $261.5K | +4.6% |
3 Bedrooms | $254.9K | $425K | +66.7% |
4 Bedrooms | $355K | $537.5K | +51.4% |
5+ Bedrooms | - | - | N/A |
Summary: Franklin Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 66.7%, 4 bedroom homes increased by 51.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Franklin Township | $253.1K | $420K | +65.9% |
Franklin | $253.1K | $420K | +65.9% |
Housing Supply in Franklin Township, NC
How many homes are available in Franklin Township, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
39 | 40 | +2.6% |
Summary: The Franklin Township real estate market had 40 homes for sale in May 2024, a 2.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 11 | 10 | -9.1% |
3 Bedrooms | 21 | 25 | +19.0% |
4 Bedrooms | 6 | 4 | -33.3% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Franklin Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 19%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 4 | -69.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Franklin Township in May 2024, down by 69.2% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Franklin Township, NC
How long does it take to sell a home in Franklin Township, NC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
56 Days | 24 Days | -56.5% |
Summary: Homes in Franklin Township had an average of 24 days on market in May 2024, down by 56.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in Franklin Township; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.