Is Franklin, OH 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.
Key Takeaway
Franklin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franklin, OH
How much do homes in Franklin, OH cost?
Median Sold Price
$260,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Franklin have sold for 13% more than they did a year ago.
Summary: The median home sold price in Franklin was $260,000 in May 2024, up 13% 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 | $480K | $110K | -77.1% |
| 2 Bedrooms | $126.2K | $160K | +26.7% |
| 3 Bedrooms | $220K | $237.5K | +8.0% |
| 4 Bedrooms | $367.8K | $325K | -11.6% |
| 5+ Bedrooms | $391.3K | $291K | -25.7% |
Summary: Franklin housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 77.1%, 2 bedroom homes increased by 26.7%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 11.6%, and 5+ bedroom homes decreased by 25.7%.
Median Sold Price Compared To Nearby Cities
| Franklin | $230K | $260K | +13.0% |
| Carlisle | $250K | $280.7K | +12.3% |
| Franklin Township | $240K | $265K | +10.4% |
| Clear Creek Township | $401.5K | $420.6K | +4.8% |
| Springboro | $368.8K | $382.3K | +3.7% |
Housing Supply in Franklin, OH
How many homes are available in Franklin, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 61 | 76 | +24.6% |
Summary: The Franklin real estate market had 76 homes for sale in May 2024, a 24.6% 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 | 11 | 0.0% |
| 3 Bedrooms | 28 | 37 | +32.1% |
| 4 Bedrooms | 16 | 22 | +37.5% |
| 5+ Bedrooms | 6 | 6 | 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 remained the same, 3 bedroom homes increased by 32.1%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 18 | -14.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Franklin in May 2024, down by 14.3% month-over-month. Of the 18 sold homes, 44% were sold under asking, 39% were sold at asking, and 17% were sold over asking.
Days on Market for Franklin, OH
How long does it take to sell a home in Franklin, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 47 Days | +19.6% |
Summary: Homes in Franklin had an average of 47 days on market in May 2024, up by 19.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Franklin has remained consistent over time.
Summary: During May 2024, 18 homes were sold in Franklin; 28% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are marked with the BR logo and detailed information about them includes the name of the listing brokers. Information Deemed Reliable But Not Guaranteed. The information included in this listing 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. Copyright © 2024 DABR MLS. All Rights Reserved
This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Real estate listings held by other brokerage firms are marked with the BR logo and detailed information about them includes the name of the listing brokers. Copyright ©2024 by the Multiple Listing Service of Greater Cincinnati, Inc. All rights reserved. For the most current information, contact your Broker.