Is Franklin County, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Franklin County was a Seller's Market.
Key Takeaway
Franklin County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Franklin County, PA
How much do homes in Franklin County, PA cost?
Median Sold Price
$265,376
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Franklin County have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Franklin County was $265,376 in March 2024, up 6.2% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $167.5K | $82.5K | -50.7% |
| 2 Bedrooms | $190K | $205K | +7.9% |
| 3 Bedrooms | $239K | $251.6K | +5.3% |
| 4 Bedrooms | $312.5K | $339.6K | +8.7% |
| 5+ Bedrooms | $373.3K | $445K | +19.2% |
Summary: Franklin County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 50.7%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 19.2%.
Median Sold Price Compared To Nearby Counties
| Washington County | $277.5K | $309.5K | +11.5% |
| Cumberland County | $281K | $299.9K | +6.7% |
| Franklin County | $249.9K | $265.3K | +6.2% |
| Adams County | $275K | $288.5K | +4.9% |
| Fulton County | $208.2K | $215K | +3.2% |
Housing Supply in Franklin County, PA
How many homes are available in Franklin County, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 651 | 668 | +2.6% |
Summary: The Franklin County real estate market had 668 homes for sale in March 2024, a 2.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 4 | -33.3% |
| 2 Bedrooms | 66 | 75 | +13.6% |
| 3 Bedrooms | 323 | 327 | +1.2% |
| 4 Bedrooms | 178 | 182 | +2.2% |
| 5+ Bedrooms | 78 | 80 | +2.6% |
Summary: The Franklin County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 2.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 92 | 96 | +4.3% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin County, you may be able to get a good deal. 34.4% of homes here sold below asking price last month.
Summary: A total of 96 homes were sold or pending in Franklin County in March 2024, up by 4.3% month-over-month. Of the 96 sold homes, 34% were sold under asking, 31% were sold at asking, and 34% were sold over asking.
Days on Market for Franklin County, PA
How long does it take to sell a home in Franklin County, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 32 Days | 40 Days | +23.3% |
Summary: Homes in Franklin County had an average of 40 days on market in Mar 2024, up by 23.3% compared to last year.
Breakdown of Home Sale Times
65 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Franklin County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 96 homes were sold in Franklin County; 68% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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