$4,036 Closing Credit*
$339,900
1,107 SqFt
2 Beds
•2 Full Baths
Dana D Sullivan, Listing Office: Keller Williams Realty Nashville/Franklin
Is Franklin, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Franklin was a Seller's Market.
Key Takeaway
Franklin is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Franklin, TN
How much do homes in Franklin, TN cost?
Median Sold Price
$889,494
$318/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$48,394(+5.8%)
Key Takeaway
Homes in Franklin have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in Franklin was $889,494 in October 2024, up 5.8% from last year, and the median price per square foot was $318.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $341.2K | $262.4K | -23.1% |
| 2 Bedrooms | $425K | $476.2K | +12.1% |
| 3 Bedrooms | $650K | $671.2K | +3.3% |
| 4 Bedrooms | $950K | $997.4K | +5.0% |
| 5+ Bedrooms | $1.3M | $1.3M | +5.2% |
Summary: Franklin housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23.1%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 5.2%.
Median Sold Price Compared To Nearby Cities
| Brentwood | $999.9K | $1.1M | +12.5% |
| Franklin | $841.1K | $889.4K | +5.8% |
Housing Supply in Franklin, TN
How many homes are available in Franklin, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 708 | 772 | +9.0% |
Summary: The Franklin real estate market had 772 homes for sale in October 2024, a 9.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 10 | +25.0% |
| 2 Bedrooms | 68 | 81 | +19.1% |
| 3 Bedrooms | 226 | 238 | +5.3% |
| 4 Bedrooms | 256 | 265 | +3.5% |
| 5+ Bedrooms | 150 | 178 | +18.7% |
Summary: The Franklin housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 19.1%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 18.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 121 | 126 | +4.1% |
Asking Price vs. Sold Price
84 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 126 homes were sold or pending in Franklin in October 2024, up by 4.1% month-over-month. Of the 126 sold homes, 67% were sold under asking, 21% were sold at asking, and 12% were sold over asking.
Days on Market for Franklin, TN
How long does it take to sell a home in Franklin, TN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 31 Days | 32 Days | +4.5% |
Summary: Homes in Franklin had an average of 32 days on market in Oct 2024, up by 4.5% compared to last year.
Breakdown of Home Sale Times
79 Homes Were Sold
Under 30 Days
33 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Franklin are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 126 homes were sold in Franklin; 63% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.