Is Franklin Township, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Franklin Township is a neutral'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, NC

How much do homes in Franklin Township, NC cost?

Median Sold Price

$302,062

$168/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$43,062(+16.6%)

Key Takeaway

Homes in Franklin Township have sold for 16.6% more than they did a year ago.

Summary: The median home sold price in Franklin Township was $302,062 in May 2024, up 16.6% from last year, and the median price per square foot was $168.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $152.5K$139K
-8.9%
2 $181K$247.5K
+36.7%
3 $259.4K$318K
+22.6%
4 $355K$349.9K
-1.4%
5+ $475K$471.5K
-0.7%

Summary: Franklin Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.9%, 2 bedroom homes increased by 36.7%, 3 bedroom homes increased by 22.6%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 0.7%.

Median Sold Price Compared To Nearby Cities

Franklin Township
+16.6%
Spencer
+13.8%
Locke Township
+11.1%
Salisbury Township
+10.5%
Salisbury
+10.0%

Housing Supply in Franklin Township, NC

How many homes are available in Franklin Township, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
111117+5.4%

Summary: The Franklin Township real estate market had 117 homes for sale in May 2024, a 5.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 20
-100.0%
2 1921
+10.5%
3 5470
+29.6%
4 3021
-30.0%
5+ 65
-16.7%

Summary: The Franklin Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 29.6%, 4 bedroom homes decreased by 30%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3318-45.5%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Franklin Township, you may be able to get a good deal. 72.2% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Franklin Township in May 2024, down by 45.5% month-over-month. Of the 18 sold homes, 72% were sold under asking, 22% were sold at asking, and 6% were sold over asking.

Days on Market for Franklin Township, NC

How long does it take to sell a home in Franklin Township, NC?

Average Sale Time

May 2023May 2024CHANGE
29 Days49 Days+68.6%

Summary: Homes in Franklin Township had an average of 49 days on market in May 2024, up by 68.6% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Franklin Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 18 homes were sold in Franklin Township; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in Franklin Township, NC

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