Is Franklin Park, PA 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 Park has remained a Seller's Market.
Housing Prices in Franklin Park, PA
How much do homes in Franklin Park, PA cost?
Median Sold Price
$538,050
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Franklin Park was $538,050 in May 2024, up 20.9% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $237.5K | $270K | +13.7% |
3 Bedrooms | $355K | $374K | +5.4% |
4 Bedrooms | $516K | $610K | +18.2% |
5+ Bedrooms | $678.5K | $851.3K | +25.5% |
Summary: Franklin Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.7%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 25.5%.
Median Sold Price Compared To Nearby Cities
Franklin Park | $445K | $538K | +20.9% |
Wexford | $441.7K | $495K | +12.1% |
Economy | $275.8K | $278K | +0.8% |
Marshall Township | $539K | $512.5K | -4.9% |
Housing Supply in Franklin Park, PA
How many homes are available in Franklin Park, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
48 | 49 | +2.1% |
Summary: The Franklin Park real estate market had 49 homes for sale in May 2024, a 2.1% 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 | 1 | 1 | 0.0% |
3 Bedrooms | 9 | 8 | -11.1% |
4 Bedrooms | 29 | 33 | +13.8% |
5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The Franklin Park 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 decreased by 11.1%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
10 | 13 | +30.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Franklin Park in May 2024, up by 30.0% month-over-month. Of the 13 sold homes, 54% were sold under asking, 23% were sold at asking, and 23% were sold over asking.
Days on Market for Franklin Park, PA
How long does it take to sell a home in Franklin Park, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
16 Days | 24 Days | +48.6% |
Summary: Homes in Franklin Park had an average of 24 days on market in May 2024, up by 48.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 13 homes were sold in Franklin Park; 62% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.