Is Franklin Square, NY 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 Square was a Buyer's Market.
Key Takeaway
Franklin Square is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Franklin Square, NY
How much do homes in Franklin Square, NY cost?
Median Sold Price
$725,000
$463/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Franklin Square have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in Franklin Square was $725,000 in April 2024, up 9.8% from last year, and the median price per square foot was $463.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $541.2K | $567.5K | +4.8% |
| 3 Bedrooms | $611.5K | $670K | +9.6% |
| 4 Bedrooms | $675K | $743.7K | +10.2% |
| 5+ Bedrooms | $840K | $885K | +5.4% |
Summary: Franklin Square 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 4.8%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Franklin Square | $660K | $725K | +9.8% |
| Garden City South | $695K | $758.7K | +9.2% |
| Town of Hempstead | $639.7K | $659.5K | +3.1% |
| West Hempstead | $650K | $665K | +2.3% |
| Elmont | $630K | $636.5K | +1.0% |
Housing Supply in Franklin Square, NY
How many homes are available in Franklin Square, NY?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 73 | 79 | +8.2% |
Summary: The Franklin Square real estate market had 79 homes for sale in April 2024, a 8.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 18 | 20 | +11.1% |
| 4 Bedrooms | 31 | 33 | +6.5% |
| 5+ Bedrooms | 19 | 20 | +5.3% |
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 25%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 5.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 13 | +30.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Square, you could pay more than the asking price. 69.2% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Franklin Square in April 2024, up by 30.0% month-over-month. Of the 13 sold homes, 8% were sold under asking, 23% were sold at asking, and 69% were sold over asking.
Days on Market for Franklin Square, NY
How long does it take to sell a home in Franklin Square, NY?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 55 Days | 29 Days | -46.5% |
Summary: Homes in Franklin Square had an average of 29 days on market in Apr 2024, down by 46.5% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Franklin Square are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in Franklin Square; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 
The data relating to real estate on this website comes in part from the Internet Data Exchange (IDX) Program of NYSAMLS’s. Real estate listings held by other firms are marked with theListing Broker’s Firm Name. Data provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s) nor this firm shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally