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 Buyer's Market.
Housing Prices in Franklin Township, MI
How much do homes in Franklin Township, MI cost?
Median Sold Price
$680,000
$256/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Summary: The median home sold price in Franklin Township was $680,000 in April 2024, up 7.5% from last month, and the median price per square foot was $256.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | - | N/A |
3 Bedrooms | - | $680K | N/A |
4 Bedrooms | $632.5K | $665K | +5.1% |
5+ Bedrooms | - | - | N/A |
Summary: Franklin Township 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 did not change, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Franklin Township | $632.5K | $680K | +7.5% |
Houghton | $630K | $230.5K | -63.4% |
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 |
---|---|---|
17 | 23 | +35.3% |
Summary: The Franklin Township real estate market had 23 homes for sale in April 2024, a 35.3% 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 | 5 | 10 | +100.0% |
4 Bedrooms | 10 | 11 | +10.0% |
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 100%, 4 bedroom homes increased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 5 | +150.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Franklin Township in April 2024, up by 150.0% month-over-month. Of the 5 sold homes, 100% were sold under asking, 0% 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?
Average Sale Time
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 Days | 25 Days | +320.0% |
Summary: Homes in Franklin Township had an average of 25 days on market in Apr 2024, up by 320% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Franklin Township; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.