Is New Franklin, 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, New Franklin has remained a Seller's Market.
Housing Prices in New Franklin, OH
How much do homes in New Franklin, OH cost?
Median Sold Price
$232,000
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in New Franklin was $232,000 in March 2024, up 4.7% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $43K | - | N/A |
2 Bedrooms | $134.9K | $177K | +31.2% |
3 Bedrooms | $216K | $225K | +4.2% |
4 Bedrooms | $268K | $290.5K | +8.4% |
5+ Bedrooms | $282.2K | $292K | +3.5% |
Summary: New Franklin 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 increased by 31.2%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes increased by 3.5%.
Median Sold Price Compared To Nearby Cities
Coventry Township | $175K | $200K | +14.3% |
Barberton | $134.6K | $150K | +11.4% |
New Franklin | $221.5K | $232K | +4.7% |
Lawrence Township | $229.9K | $232.5K | +1.1% |
Norton | $243.8K | $234.9K | -3.7% |
Housing Supply in New Franklin, OH
How many homes are available in New Franklin, OH?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
35 | 39 | +11.4% |
Summary: The New Franklin real estate market had 39 homes for sale in March 2024, a 11.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 8 | 6 | -25.0% |
3 Bedrooms | 14 | 15 | +7.1% |
4 Bedrooms | 9 | 13 | +44.4% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The New Franklin 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 decreased by 25%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 11 | +37.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in New Franklin in March 2024, up by 37.5% month-over-month. Of the 11 sold homes, 45% were sold under asking, 27% were sold at asking, and 27% were sold over asking.
Days on Market for New Franklin, OH
How long does it take to sell a home in New Franklin, OH?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
28 Days | 25 Days | -11.7% |
Summary: Homes in New Franklin had an average of 25 days on market in Mar 2024, down by 11.7% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in New Franklin; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.