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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Franklin Township is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Franklin Township has remained a Seller's Market.

Key Takeaway

Franklin Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Franklin Township, IN

How much do homes in Franklin Township, IN cost?

Median Sold Price

$252,500

$154/sqft

Based on all homes sold in March 2024.

Difference Since Last Month

-$26,500(-9.5%)

Key Takeaway

Homes in Franklin Township have sold for 9.5% less than they did a month ago.

Summary: The median home sold price in Franklin Township was $252,500 in March 2024, down 9.5% from last month, and the median price per square foot was $154.

Median Sold Price By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 $15K-
N/A
2 $220K$200K
-9.1%
3 $242.5K$250K
+3.1%
4 $397.1K$290K
-27.0%
5+ $478.7K-
N/A

Summary: Franklin Township housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 3.1%, 4 bedroom homes decreased by 27%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Marion
+483.3%
Center Township
+62.8%
Pleasant Township
+9.5%
Franklin Township
-9.5%

Housing Supply in Franklin Township, IN

How many homes are available in Franklin Township, IN?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
110105-4.5%

Summary: The Franklin Township real estate market had 105 homes for sale in March 2024, a 4.5% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 10
-100.0%
2 1013
+30.0%
3 6260
-3.2%
4 3025
-16.7%
5+ 77
0.0%

Summary: The Franklin Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 30%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
3832-15.8%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

8 Homes Were 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. 46.9% of homes here sold below asking price last month.

Summary: A total of 32 homes were sold or pending in Franklin Township in March 2024, down by 15.8% month-over-month. Of the 32 sold homes, 47% were sold under asking, 28% were sold at asking, and 25% were sold over asking.

Days on Market for Franklin Township, IN

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

Average Sale Time

Feb 2024Mar 2024CHANGE
39 Days54 Days+36.7%

Summary: Homes in Franklin Township had an average of 54 days on market in Mar 2024, up by 36.7% compared to last month.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

5 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 March 2024, 32 homes were sold in Franklin Township; 63% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 16% 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 30 Days Ago

Newest Listings in Franklin Township, IN

Nearby Markets to Franklin Township, IN

What housing markets are near Franklin Township, IN?