Is Franklin Township, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Franklin Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Franklin Township has remained a Seller's Market.

Key Takeaway

Franklin Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Franklin Township, OH

How much do homes in Franklin Township, OH cost?

Median Sold Price

$265,000

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$30,333(+12.9%)

Key Takeaway

Homes in Franklin Township have sold for 12.9% more than they did a year ago.

Summary: The median home sold price in Franklin Township was $265,000 in May 2024, up 12.9% from last year, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $480K$110K
-77.1%
2 $127.5K$161K
+26.3%
3 $225K$240K
+6.7%
4 $375K$325K
-13.3%
5+ $391.3K$370K
-5.5%

Summary: Franklin Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 77.1%, 2 bedroom homes increased by 26.3%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes decreased by 5.5%.

Median Sold Price Compared To Nearby Cities

Franklin Township
+12.9%
Wooster Township
+3.6%

Housing Supply in Franklin Township, OH

How many homes are available in Franklin Township, OH?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6579+21.5%

Summary: The Franklin Township real estate market had 79 homes for sale in May 2024, a 21.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1112
+9.1%
3 3239
+21.9%
4 1622
+37.5%
5+ 66
0.0%

Summary: The Franklin Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 21.9%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
2418-25.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Franklin Township, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Franklin Township in May 2024, down by 25.0% month-over-month. Of the 18 sold homes, 44% were sold under asking, 39% were sold at asking, and 17% 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

May 2023May 2024CHANGE
43 Days47 Days+9.5%

Summary: Homes in Franklin Township had an average of 47 days on market in May 2024, up by 9.5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Franklin Township has remained consistent over time.

Summary: During May 2024, 18 homes were sold in Franklin Township; 28% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 16 Days Ago

Newest Listings in Franklin Township, OH

Nearby Markets to Franklin Township, OH

What housing markets are near Franklin Township, OH?