Is New Franklin, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 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
$225,000
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in New Franklin was $225,000 in February 2024, up 2.3% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $43K | - | N/A |
2 Bedrooms | $127.4K | $195K | +53.0% |
3 Bedrooms | $215K | $221.7K | +3.1% |
4 Bedrooms | $265K | $295.5K | +11.5% |
5+ Bedrooms | $282.2K | $240K | -15.0% |
Summary: New Franklin housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 53%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes decreased by 15%.
Median Sold Price Compared To Nearby Cities
Coventry Township | $175K | $200K | +14.3% |
Barberton | $133.4K | $145K | +8.6% |
New Franklin | $220K | $225K | +2.3% |
Lawrence Township | $235K | $229.4K | -2.4% |
Norton | $243.4K | $228.7K | -6.0% |
Housing Supply in New Franklin, OH
How many homes are available in New Franklin, OH?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
29 | 36 | +24.1% |
Summary: The New Franklin real estate market had 36 homes for sale in February 2024, a 24.1% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 8 | +33.3% |
3 Bedrooms | 11 | 14 | +27.3% |
4 Bedrooms | 7 | 10 | +42.9% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The New Franklin housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
4 | 7 | +75.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in New Franklin in February 2024, up by 75.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 0% were sold at asking, and 43% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
51 Days | 20 Days | -60.2% |
Summary: Homes in New Franklin had an average of 20 days on market in Feb 2024, down by 60.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 7 homes were sold in New Franklin; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.