Is Franklin, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Franklin is a 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, NY

How much do homes in Franklin, NY cost?

Median Sold Price

$302,500

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$72,500(+31.5%)

Key Takeaway

Homes in Franklin have sold for 31.5% more than they did a year ago.

Summary: The median home sold price in Franklin was $302,500 in October 2024, up 31.5% from last year, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $235K-
N/A
2 $275K$180K
-34.5%
3 $225K$318.6K
+41.6%
4 $260K$350K
+34.6%
5+ $168K$180K
+7.1%

Summary: Franklin 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 decreased by 34.5%, 3 bedroom homes increased by 41.6%, 4 bedroom homes increased by 34.6%, and 5+ bedroom homes increased by 7.1%.

Housing Supply in Franklin, NY

How many homes are available in Franklin, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1211-8.3%

Summary: The Franklin real estate market had 11 homes for sale in October 2024, a 8.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 21
-50.0%
3 74
-42.9%
4 13
+200.0%
5+ 12
+100.0%

Summary: The Franklin 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 decreased by 50%, 3 bedroom homes decreased by 42.9%, 4 bedroom homes increased by 200%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
42-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Franklin, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Franklin in October 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for Franklin, NY

How long does it take to sell a home in Franklin, NY?

Average Sale Time

Oct 2023Oct 2024CHANGE
150 Days44 Days-70.4%

Summary: Homes in Franklin had an average of 44 days on market in Oct 2024, down by 70.4% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Franklin are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 2 homes were sold in Franklin; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in Franklin, NY

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