Is Franklin Township, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 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, MN
How much do homes in Franklin Township, MN cost?
Median Sold Price
$440,355
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Franklin Township have sold for 19.9% less than they did a year ago.
Summary: The median home sold price in Franklin Township was $440,355 in April 2024, down 19.9% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $599K | $232.5K | -61.2% |
| 3 Bedrooms | $412.5K | $430K | +4.2% |
| 4 Bedrooms | $732.7K | $437.7K | -40.3% |
| 5+ Bedrooms | $750K | $795.2K | +6.0% |
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 decreased by 61.2%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 40.3%, and 5+ bedroom homes increased by 6%.
Housing Supply in Franklin Township, MN
How many homes are available in Franklin Township, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 36 | 40 | +11.1% |
Summary: The Franklin Township real estate market had 40 homes for sale in April 2024, a 11.1% 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 25 | 26 | +4.0% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
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 increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were 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. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Franklin Township in April 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Franklin Township, MN
How long does it take to sell a home in Franklin Township, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 112 Days | +433.3% |
Summary: Homes in Franklin Township had an average of 112 days on market in Apr 2024, up by 433.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Franklin Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 3 homes were sold in Franklin Township; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
