Is Franklin Township, NC 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.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $152.5K | $139K | -8.9% |
2 Bedrooms | $181K | $247.5K | +36.7% |
3 Bedrooms | $259.4K | $318K | +22.6% |
4 Bedrooms | $355K | $349.9K | -1.4% |
5+ Bedrooms | $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 | $259K | $302K | +16.6% |
Spencer | $210K | $239K | +13.8% |
Locke Township | $280K | $311K | +11.1% |
Salisbury Township | $245K | $270.8K | +10.5% |
Salisbury | $250K | $275K | +10.0% |
Housing Supply in Franklin Township, NC
How many homes are available in Franklin Township, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
111 | 117 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 0 | -100.0% |
2 Bedrooms | 19 | 21 | +10.5% |
3 Bedrooms | 54 | 70 | +29.6% |
4 Bedrooms | 30 | 21 | -30.0% |
5+ Bedrooms | 6 | 5 | -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 2024 | May 2024 | CHANGE |
---|---|---|
33 | 18 | -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
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 2023 | May 2024 | CHANGE |
---|---|---|
29 Days | 49 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
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.