$7,124 Closing Credit*
$599,900
1,912 SqFt
3 Beds
•2 Full Baths
James O Babcock, Listing Office: Cutler Real Estate
Is New Franklin, OH 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, New Franklin has remained a Seller's Market.
Key Takeaway
New Franklin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Franklin, OH
How much do homes in New Franklin, OH cost?
Median Sold Price
$258,500
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$33,500(+14.9%)
Key Takeaway
Homes in New Franklin have sold for 14.9% more than they did a year ago.
Summary: The median home sold price in New Franklin was $258,500 in October 2024, up 14.9% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $197.5K | $159.3K | -19.3% |
| 3 Bedrooms | $220K | $237.5K | +8.0% |
| 4 Bedrooms | $291K | $295K | +1.4% |
| 5+ Bedrooms | $240K | $377.5K | +57.3% |
Summary: New 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 19.3%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 57.3%.
Median Sold Price Compared To Nearby Cities
| New Franklin | $225K | $258.5K | +14.9% |
| Barberton | $139.9K | $157.5K | +12.6% |
| Lawrence Township | $229K | $250K | +9.2% |
| Coventry Township | $189K | $199.9K | +5.8% |
| Norton | $255K | $235K | -7.8% |
Housing Supply in New Franklin, OH
How many homes are available in New Franklin, OH?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 46 | 53 | +15.2% |
Summary: The New Franklin real estate market had 53 homes for sale in October 2024, a 15.2% 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 | 1 | 4 | +300.0% |
| 3 Bedrooms | 30 | 33 | +10.0% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The New 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 increased by 300%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 17 | +54.5% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Franklin, you may be able to get a good deal. 68.8% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in New Franklin in October 2024, up by 54.5% month-over-month. Of the 16 sold homes, 69% were sold under asking, 6% were sold at asking, and 25% were sold over asking.
Days on Market for New Franklin, OH
How long does it take to sell a home in New Franklin, OH?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 36 Days | +42.6% |
Summary: Homes in New Franklin had an average of 36 days on market in Oct 2024, up by 42.6% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Franklin are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 17 homes were sold in New Franklin; 59% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
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