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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Franklin is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, South Franklin has remained a Seller's Market.

Key Takeaway

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

Housing Prices in South Franklin, IN

How much do homes in South Franklin, IN cost?

Median Sold Price

$310,000

$146/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$66(0.0%)

Key Takeaway

The sold price of homes in South Franklin has remained the same since last year.

Summary: The median home sold price in South Franklin was $310,000 in April 2024, the same as last year, and the median price per square foot was $146.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $127K-
N/A
2 $219.9K$220K
0.0%
3 $269K$275K
+2.2%
4 $359.9K$350K
-2.8%
5+ $435K$435K
0.0%

Summary: South Franklin housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 2.2%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Muirfield
+2.2%
South Franklin
0.0%

Housing Supply in South Franklin, IN

How many homes are available in South Franklin, IN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
9382-11.8%

Summary: The South Franklin real estate market had 82 homes for sale in April 2024, a 11.8% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 108
-20.0%
3 3128
-9.7%
4 4034
-15.0%
5+ 1212
0.0%

Summary: The South Franklin housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 9.7%, 4 bedroom homes decreased by 15%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2822-21.4%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Franklin, you may be able to get a good deal. 68.2% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in South Franklin in April 2024, down by 21.4% month-over-month. Of the 22 sold homes, 68% were sold under asking, 14% were sold at asking, and 18% were sold over asking.

Days on Market for South Franklin, IN

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

Average Sale Time

Apr 2023Apr 2024CHANGE
43 Days34 Days-19.0%

Summary: Homes in South Franklin had an average of 34 days on market in Apr 2024, down by 19% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 22 homes were sold in South Franklin; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% 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 1 Day Ago

Newest Listings in South Franklin, IN

Nearby Markets to South Franklin, IN