Is Franklin Township, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Franklin Township has remained a Seller's Market.
Housing Prices in Franklin Township, OH
How much do homes in Franklin Township, OH cost?
Median Sold Price
$265,000
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Franklin Township was $265,000 in March 2024, up 1.9% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $160K | N/A |
2 Bedrooms | $160K | $155.2K | -3.0% |
3 Bedrooms | $215K | $244.5K | +13.7% |
4 Bedrooms | $282.5K | $330K | +16.8% |
5+ Bedrooms | $432.2K | $370K | -14.4% |
Summary: Franklin Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 16.8%, and 5+ bedroom homes decreased by 14.4%.
Median Sold Price Compared To Nearby Cities
Streetsboro | $222.7K | $255.6K | +14.8% |
Kent | $207.5K | $230K | +10.8% |
Franklin Township | $260K | $265K | +1.9% |
Brady Lake | $140.1K | $139.9K | -0.1% |
Housing Supply in Franklin Township, OH
How many homes are available in Franklin Township, OH?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
83 | 77 | -7.2% |
Summary: The Franklin Township real estate market had 77 homes for sale in March 2024, a 7.2% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 12 | 15 | +25.0% |
3 Bedrooms | 40 | 32 | -20.0% |
4 Bedrooms | 24 | 24 | 0.0% |
5+ Bedrooms | 6 | 5 | -16.7% |
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 increased by 25%, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 25 | +8.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in Franklin Township in March 2024, up by 8.7% month-over-month. Of the 25 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Franklin Township, OH
How long does it take to sell a home in Franklin Township, OH?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
70 Days | 65 Days | -7.6% |
Summary: Homes in Franklin Township had an average of 65 days on market in Mar 2024, down by 7.6% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 25 homes were sold in Franklin Township; 24% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.