Is Franklin Township, MI 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 Township was a Seller's Market.
Key Takeaway
Franklin Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Franklin Township, MI
How much do homes in Franklin Township, MI cost?
Median Sold Price
$632,500
$225/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Franklin Township have sold for 23.7% more than they did a month ago.
Summary: The median home sold price in Franklin Township was $632,500 in March 2024, up 23.7% from last month, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $412K | - | N/A |
| 4 Bedrooms | $611K | $632.5K | +3.5% |
| 5+ Bedrooms | - | - | N/A |
Summary: Franklin Township housing prices by bedroom type for March 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 did not change, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes did not change.
Housing Supply in Franklin Township, MI
How many homes are available in Franklin Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 23 | +64.3% |
Summary: The Franklin Township real estate market had 23 homes for sale in March 2024, a 64.3% increase 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 7 | 10 | +42.9% |
| 4 Bedrooms | 7 | 10 | +42.9% |
| 5+ Bedrooms | 0 | 3 | +100.0% |
Summary: The Franklin Township 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 remained the same, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Franklin Township in March 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Franklin Township, MI
How long does it take to sell a home in Franklin Township, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 63 Days | 6 Days | -90.5% |
Summary: Homes in Franklin Township had an average of 6 days on market in Mar 2024, down by 90.5% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Franklin Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in Franklin Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.