$2,007 Closing Credit*
$169,000
748 SqFt
1 Bed
•1 Full Bath
Listing Office: KELLER WILLIAMS REALTY LYNCHBURG
Is Franklin County, VA 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 County was a Seller's Market.
Key Takeaway
Franklin County 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 County, VA
How much do homes in Franklin County, VA cost?
Median Sold Price
$350,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,400(+3.1%)
Key Takeaway
Homes in Franklin County have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in Franklin County was $350,000 in October 2024, up 3.1% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | $86K | -33.8% |
| 2 Bedrooms | $199.9K | $211.5K | +5.8% |
| 3 Bedrooms | $299.9K | $334.4K | +11.5% |
| 4 Bedrooms | $440.7K | $450K | +2.1% |
| 5+ Bedrooms | $680K | $625K | -8.1% |
Summary: Franklin County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 33.8%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 8.1%.
Median Sold Price Compared To Nearby Counties
| Roanoke County | $299.6K | $324.1K | +8.2% |
| Franklin County | $339.6K | $350K | +3.1% |
| Floyd County | $315K | $300K | -4.8% |
Housing Supply in Franklin County, VA
How many homes are available in Franklin County, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 193 | 235 | +21.8% |
Summary: The Franklin County real estate market had 235 homes for sale in October 2024, a 21.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 19 | 23 | +21.1% |
| 3 Bedrooms | 101 | 128 | +26.7% |
| 4 Bedrooms | 53 | 58 | +9.4% |
| 5+ Bedrooms | 19 | 25 | +31.6% |
Summary: The Franklin County 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 21.1%, 3 bedroom homes increased by 26.7%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 31.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 35 | 39 | +11.4% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin County, you may be able to get a good deal. 51.3% of homes here sold below asking price last month.
Summary: A total of 39 homes were sold or pending in Franklin County in October 2024, up by 11.4% month-over-month. Of the 39 sold homes, 51% were sold under asking, 21% were sold at asking, and 28% were sold over asking.
Days on Market for Franklin County, VA
How long does it take to sell a home in Franklin County, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 9 Days | 103 Days | +1048.1% |
Summary: Homes in Franklin County had an average of 103 days on market in Oct 2024, up by 1048.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Franklin County are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 39 homes were sold in Franklin County; 3% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes. 
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.