Is Franklin Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Franklin Township has remained a Seller's Market.
Housing Prices in Franklin Township, MI
How much do homes in Franklin Township, MI cost?
Median Sold Price
$483,000
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Franklin Township was $483,000 in April 2024, up 9.8% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135.3K | - | N/A |
2 Bedrooms | $295K | $379K | +28.5% |
3 Bedrooms | $320K | $400K | +25.0% |
4 Bedrooms | $557.5K | $611K | +9.6% |
5+ Bedrooms | $812.5K | $900K | +10.8% |
Summary: Franklin Township 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 increased by 28.5%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 10.8%.
Median Sold Price Compared To Nearby Cities
Franklin Township | $440K | $483K | +9.8% |
Tecumseh Township | $239.5K | $252.5K | +5.4% |
Tipton | $302.7K | $318.2K | +5.1% |
Manchester Township | $299.9K | $295K | -1.6% |
Clinton Township | $245K | $241K | -1.6% |
Housing Supply in Franklin Township, MI
How many homes are available in Franklin Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
31 | 34 | +9.7% |
Summary: The Franklin Township real estate market had 34 homes for sale in April 2024, a 9.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 12 | 15 | +25.0% |
4 Bedrooms | 17 | 17 | 0.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Franklin Township 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 remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
7 | 9 | +28.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Franklin Township in April 2024, up by 28.6% month-over-month. Of the 9 sold homes, 89% were sold under asking, 11% were sold at asking, and 0% were sold over asking.
Days on Market for Franklin Township, MI
How long does it take to sell a home in Franklin Township, MI?
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 9 homes were sold in Franklin Township; 56% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.