Is Franklin Township, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Franklin Township was a Seller's Market.
Key Takeaway
Franklin Township 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 Township, IA
How much do homes in Franklin Township, IA cost?
Median Sold Price
$322,500
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Franklin Township have sold for 27.7% more than they did a year ago.
Summary: The median home sold price in Franklin Township was $322,500 in May 2024, up 27.7% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $255K | N/A |
| 2 Bedrooms | $177.7K | $220K | +23.8% |
| 3 Bedrooms | $237K | $300K | +26.6% |
| 4 Bedrooms | $285K | $349.9K | +22.8% |
| 5+ Bedrooms | $462.5K | $340K | -26.5% |
Summary: Franklin Township 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 23.8%, 3 bedroom homes increased by 26.6%, 4 bedroom homes increased by 22.8%, and 5+ bedroom homes decreased by 26.5%.
Median Sold Price Compared To Nearby Cities
| Franklin Township | $252.4K | $322.5K | +27.7% |
| Lisbon | $231.5K | $290K | +25.3% |
| Lisbon | $231.5K | $277.5K | +19.9% |
| Mount Vernon | $292K | $343.5K | +17.6% |
Housing Supply in Franklin Township, IA
How many homes are available in Franklin Township, IA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 30 | +3.4% |
Summary: The Franklin Township real estate market had 30 homes for sale in May 2024, a 3.4% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 17 | 17 | 0.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Franklin Township 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 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Township, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Franklin Township in May 2024, up by 25.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for Franklin Township, IA
How long does it take to sell a home in Franklin Township, IA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 29 Days | -25.2% |
Summary: Homes in Franklin Township had an average of 29 days on market in May 2024, down by 25.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Franklin Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Franklin Township; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided Courtesy Of Cedar Rapids Area Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Is Believed To Be Accurate But Not Guaranteed.