Is Franklin Town, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Franklin Town is a seller's market

Buyer's
Market

Difference Since May 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

$640,000

$307/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$57,606(+9.9%)

Key Takeaway

Homes in Franklin Town have sold for 9.9% more than they did a year ago.

Summary: The median home sold price in Franklin Town was $640,000 in May 2024, up 9.9% from last year, and the median price per square foot was $307.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $178K$220K
+23.6%
2 $380K$400K
+5.3%
3 $524.9K$594.9K
+13.3%
4 $785K$780K
-0.6%
5+ $777K$875K
+12.6%

Summary: Franklin Town housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.6%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 12.6%.

Median Sold Price Compared To Nearby Cities

Medway
+18.3%
Bellingham
+11.1%
Franklin Town
+9.9%
Franklin
+9.9%
Norfolk
+5.6%

Housing Supply in Franklin Town, MA

How many homes are available in Franklin Town, MA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7697+27.6%

Summary: The Franklin Town real estate market had 97 homes for sale in May 2024, a 27.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 2323
0.0%
3 1318
+38.5%
4 3142
+35.5%
5+ 813
+62.5%

Summary: The Franklin Town housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 38.5%, 4 bedroom homes increased by 35.5%, and 5+ bedroom homes increased by 62.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2126+23.8%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Franklin Town, you could pay more than the asking price. 84.6% of homes here sold above asking price last month.

Summary: A total of 26 homes were sold or pending in Franklin Town in May 2024, up by 23.8% month-over-month. Of the 26 sold homes, 8% were sold under asking, 8% were sold at asking, and 85% 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

May 2023May 2024CHANGE
17 Days18 Days+1.6%

Summary: Homes in Franklin Town had an average of 18 days on market in May 2024, up by 1.6% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 26 homes were sold in Franklin Town; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% 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 16 Days Ago

Newest Listings in Franklin Town, MA

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