Is Franklin, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Franklin has remained a Seller's Market.
Housing Prices in Franklin, MA
How much do homes in Franklin, MA cost?
Median Sold Price
$635,500
$305/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Franklin was $635,500 in April 2024, up 6.1% from last year, and the median price per square foot was $305.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $178K | $265K | +48.9% |
2 Bedrooms | $392.5K | $372.5K | -5.1% |
3 Bedrooms | $525K | $582.5K | +11.0% |
4 Bedrooms | $785K | $800K | +1.9% |
5+ Bedrooms | $810K | $842.5K | +4.0% |
Summary: Franklin housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 48.9%, 2 bedroom homes decreased by 5.1%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 4%.
Median Sold Price Compared To Nearby Cities
Medway | $587.5K | $685K | +16.6% |
Bellingham | $436K | $482.5K | +10.7% |
Franklin | $598.7K | $635.5K | +6.1% |
Franklin Town | $598.7K | $635.5K | +6.1% |
Norfolk | $710K | $729K | +2.7% |
Housing Supply in Franklin, MA
How many homes are available in Franklin, MA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
51 | 77 | +51.0% |
Summary: The Franklin real estate market had 77 homes for sale in April 2024, a 51.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 15 | 25 | +66.7% |
3 Bedrooms | 12 | 12 | 0.0% |
4 Bedrooms | 18 | 29 | +61.1% |
5+ Bedrooms | 6 | 10 | +66.7% |
Summary: The Franklin housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 61.1%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 20 | +53.8% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Franklin in April 2024, up by 53.8% month-over-month. Of the 20 sold homes, 15% were sold under asking, 10% were sold at asking, and 75% were sold over asking.
Days on Market for Franklin, MA
How long does it take to sell a home in Franklin, MA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
20 Days | 15 Days | -27.2% |
Summary: Homes in Franklin had an average of 15 days on market in Apr 2024, down by 27.2% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 20 homes were sold in Franklin; 95% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.