Is Franklin, IN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Franklin has remained a Seller's Market.
Housing Prices in Franklin, IN
How much do homes in Franklin, IN cost?
Median Sold Price
$271,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Franklin was $271,000 in May 2024, up 6.3% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $286.3K | $105K | -63.3% |
2 Bedrooms | $173.5K | $189.9K | +9.5% |
3 Bedrooms | $240K | $250K | +4.2% |
4 Bedrooms | $300K | $319.9K | +6.6% |
5+ Bedrooms | $377.5K | $412.5K | +9.3% |
Summary: Franklin housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 63.3%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 9.3%.
Median Sold Price Compared To Nearby Cities
Franklin Township | $250K | $271K | +8.4% |
Needham Township | $293.5K | $315K | +7.3% |
Franklin | $255K | $271K | +6.3% |
Pleasant Township | $269.5K | $265.1K | -1.6% |
Whiteland | $284K | $268K | -5.6% |
Housing Supply in Franklin, IN
How many homes are available in Franklin, IN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
114 | 125 | +9.6% |
Summary: The Franklin real estate market had 125 homes for sale in May 2024, a 9.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 11 | 13 | +18.2% |
3 Bedrooms | 64 | 76 | +18.8% |
4 Bedrooms | 32 | 29 | -9.4% |
5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Franklin housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 18.8%, 4 bedroom homes decreased by 9.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
35 | 36 | +2.9% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in Franklin in May 2024, up by 2.9% month-over-month. Of the 36 sold homes, 58% were sold under asking, 14% were sold at asking, and 28% were sold over asking.
Days on Market for Franklin, IN
How long does it take to sell a home in Franklin, IN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
33 Days | 26 Days | -19.8% |
Summary: Homes in Franklin had an average of 26 days on market in May 2024, down by 19.8% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 36 homes were sold in Franklin; 75% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.