Is Franklin Square, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Franklin Square was a Buyer's Market.
Key Takeaway
Franklin Square is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franklin Square, MD
How much do homes in Franklin Square, MD cost?
Median Sold Price
$63,000
$63/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Franklin Square have sold for 61.3% less than they did a month ago.
Summary: The median home sold price in Franklin Square was $63,000 in April 2024, down 61.3% from last month, and the median price per square foot was $63.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $63K | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $163K | $58.5K | -64.1% |
| 4 Bedrooms | $210K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Franklin Square housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 64.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Union Square | $150.5K | $240K | +59.5% |
| Harlem Park | $138.5K | $61.8K | -55.3% |
| Franklin Square | $163K | $63K | -61.3% |
Housing Supply in Franklin Square, MD
How many homes are available in Franklin Square, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 25 | +4.2% |
Summary: The Franklin Square real estate market had 25 homes for sale in April 2024, a 4.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 6 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 7 | 8 | +14.3% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Franklin Square 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 increased by 50%, 3 bedroom homes increased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +166.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Square, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Franklin Square in April 2024, up by 166.7% month-over-month. Of the 8 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Franklin Square, MD
How long does it take to sell a home in Franklin Square, MD?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 78 Days | 102 Days | +30.9% |
Summary: Homes in Franklin Square had an average of 102 days on market in Apr 2024, up by 30.9% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Franklin Square are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 8 homes were sold in Franklin Square; 13% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 88% of homes were sold over 90 days.
