$9,441 Closing Credit*
$795,000
1,896 SqFt
3 Beds
•2 Full Baths, 1 Partial
Dimitar Z Dimitrov, Listing Office: KW United
Is Franconia, VA 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 has remained a Seller's Market.
Key Takeaway
Franconia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franconia, VA
How much do homes in Franconia, VA cost?
Median Sold Price
$575,000
$366/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$45,000(+8.5%)
Key Takeaway
Homes in Franconia have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Franconia was $575,000 in October 2024, up 8.5% from last year, and the median price per square foot was $366.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $271K | $292.7K | +8.0% |
| 2 Bedrooms | $410K | $436K | +6.3% |
| 3 Bedrooms | $555K | $605K | +9.0% |
| 4 Bedrooms | $699.9K | $770K | +10.0% |
| 5+ Bedrooms | $1.0M | $900K | -14.3% |
Summary: Franconia housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 14.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Kingstowne | $625K | $682K | +9.1% |
| Franconia | $530K | $575K | +8.5% |
| Rose Hill | $625K | $662K | +5.9% |
Housing Supply in Franconia, VA
How many homes are available in Franconia, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 50 | 66 | +32.0% |
Summary: The Franconia real estate market had 66 homes for sale in October 2024, a 32.0% 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 | 14 | 18 | +28.6% |
| 3 Bedrooms | 28 | 36 | +28.6% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Franconia 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 28.6%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 19 | +26.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franconia, you could pay more than the asking price. 47.4% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Franconia in October 2024, up by 26.7% month-over-month. Of the 19 sold homes, 11% were sold under asking, 42% were sold at asking, and 47% were sold over asking.
Days on Market for Franconia, VA
How long does it take to sell a home in Franconia, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 15 Days | 13 Days | -12.3% |
Summary: Homes in Franconia had an average of 13 days on market in Oct 2024, down by 12.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Franconia are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 19 homes were sold in Franconia; 79% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
