Is Franconia Township, PA 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, Franconia Township has remained a Seller's Market.
Key Takeaway
Franconia Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franconia Township, PA
How much do homes in Franconia Township, PA cost?
Median Sold Price
$489,000
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Franconia Township have sold for 13.7% more than they did a year ago.
Summary: The median home sold price in Franconia Township was $489,000 in March 2024, up 13.7% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $403K | $445K | +10.4% |
| 3 Bedrooms | $402.5K | $429.5K | +6.7% |
| 4 Bedrooms | $565K | $611K | +8.1% |
| 5+ Bedrooms | $571.5K | $746K | +30.5% |
Summary: Franconia 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 increased by 10.4%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 30.5%.
Median Sold Price Compared To Nearby Cities
| Telford | $337.5K | $390K | +15.6% |
| Franconia Township | $430K | $489K | +13.7% |
| Souderton | $370K | $409.9K | +10.8% |
| Telford | $381.5K | $388.4K | +1.8% |
Housing Supply in Franconia Township, PA
How many homes are available in Franconia Township, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 28 | 28 | 0.0% |
Summary: The Franconia Township real estate market had 28 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 16 | 16 | 0.0% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Franconia 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 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 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
Key Takeaway
If you're buying a home in Franconia Township, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Franconia Township in March 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 Franconia Township, PA
How long does it take to sell a home in Franconia Township, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 36 Days | 19 Days | -46.0% |
Summary: Homes in Franconia Township had an average of 19 days on market in Mar 2024, down by 46% 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
Key Takeaway
Many homes in Franconia Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in Franconia Township; 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.
