Is Franklin Town, MA 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 Town has remained a Seller's Market.
Key Takeaway
Franklin Town is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franklin Town, MA
How much do homes in Franklin Town, MA cost?
Median Sold Price
$640,000
$307/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Franklin Town have sold for 9.9% more than they did a year ago.
Summary: The median home sold price in Franklin Town was $640,000 in May 2024, up 9.9% from last year, and the median price per square foot was $307.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $178K | $220K | +23.6% |
| 2 Bedrooms | $380K | $400K | +5.3% |
| 3 Bedrooms | $524.9K | $594.9K | +13.3% |
| 4 Bedrooms | $785K | $780K | -0.6% |
| 5+ Bedrooms | $777K | $875K | +12.6% |
Summary: Franklin Town housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.6%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 12.6%.
Median Sold Price Compared To Nearby Cities
| Medway | $582.5K | $689K | +18.3% |
| Bellingham | $441K | $489.9K | +11.1% |
| Franklin Town | $582.3K | $640K | +9.9% |
| Franklin | $582.3K | $640K | +9.9% |
| Norfolk | $710K | $750K | +5.6% |
Housing Supply in Franklin Town, MA
How many homes are available in Franklin Town, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 76 | 97 | +27.6% |
Summary: The Franklin Town real estate market had 97 homes for sale in May 2024, a 27.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 23 | 23 | 0.0% |
| 3 Bedrooms | 13 | 18 | +38.5% |
| 4 Bedrooms | 31 | 42 | +35.5% |
| 5+ Bedrooms | 8 | 13 | +62.5% |
Summary: The Franklin Town 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 remained the same, 3 bedroom homes increased by 38.5%, 4 bedroom homes increased by 35.5%, and 5+ bedroom homes increased by 62.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 26 | +23.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Town, you could pay more than the asking price. 84.6% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in Franklin Town in May 2024, up by 23.8% month-over-month. Of the 26 sold homes, 8% were sold under asking, 8% were sold at asking, and 85% were sold over asking.
Days on Market for Franklin Town, MA
How long does it take to sell a home in Franklin Town, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 18 Days | +1.6% |
Summary: Homes in Franklin Town had an average of 18 days on market in May 2024, up by 1.6% compared to last year.
Breakdown of Home Sale Times
22 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 Franklin Town are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 26 homes were sold in Franklin Town; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
