Is Franklin Town, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Franklin Town has remained a Seller's Market.
Key Takeaway
Franklin Town is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franklin Town, MA
How much do homes in Franklin Town, MA cost?
Median Sold Price
$636,000
$303/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Franklin Town have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in Franklin Town was $636,000 in March 2024, up 9.3% from last year, and the median price per square foot was $303.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $178K | $265K | +48.9% |
| 2 Bedrooms | $382.5K | $417.5K | +9.2% |
| 3 Bedrooms | $525K | $580K | +10.5% |
| 4 Bedrooms | $785K | $805K | +2.5% |
| 5+ Bedrooms | $820K | $805.5K | -1.8% |
Summary: Franklin Town housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 48.9%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes decreased by 1.8%.
Median Sold Price Compared To Nearby Cities
| Medway | $590K | $679K | +15.1% |
| Bellingham | $435K | $479.5K | +10.2% |
| Franklin | $579K | $636K | +9.8% |
| Franklin Town | $582K | $636K | +9.3% |
| Norfolk | $710.4K | $707.5K | -0.4% |
Housing Supply in Franklin Town, MA
How many homes are available in Franklin Town, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 46 | 45 | -2.2% |
Summary: The Franklin Town real estate market had 45 homes for sale in March 2024, a 2.2% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 15 | 12 | -20.0% |
| 3 Bedrooms | 15 | 11 | -26.7% |
| 4 Bedrooms | 10 | 16 | +60.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Franklin Town housing inventory by bedroom type for March 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 26.7%, 4 bedroom homes increased by 60%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 12 | -20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Town, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Franklin Town in March 2024, down by 20.0% month-over-month. Of the 12 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Franklin Town, MA
How long does it take to sell a home in Franklin Town, MA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 18 Days | 21 Days | +11.8% |
Summary: Homes in Franklin Town had an average of 21 days on market in Mar 2024, up by 11.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Franklin Town are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 12 homes were sold in Franklin Town; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
