Is Franklin Park, 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, Franklin Park has remained a Seller's Market.
Housing Prices in Franklin Park, PA
How much do homes in Franklin Park, PA cost?
Median Sold Price
$510,000
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Franklin Park was $510,000 in March 2024, up 14% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $231K | $272.5K | +18.0% |
3 Bedrooms | $362K | $364K | +0.6% |
4 Bedrooms | $516.2K | $571K | +10.6% |
5+ Bedrooms | $736.7K | $864.9K | +17.4% |
Summary: Franklin Park 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 18%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 17.4%.
Median Sold Price Compared To Nearby Cities
Franklin Park | $447.5K | $510K | +14.0% |
Wexford | $436.3K | $492K | +12.8% |
Marshall Township | $525K | $522.5K | -0.5% |
Economy | $289.9K | $270K | -6.9% |
Housing Supply in Franklin Park, PA
How many homes are available in Franklin Park, PA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
27 | 38 | +40.7% |
Summary: The Franklin Park real estate market had 38 homes for sale in March 2024, a 40.7% 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 | 2 | 2 | 0.0% |
3 Bedrooms | 7 | 8 | +14.3% |
4 Bedrooms | 14 | 22 | +57.1% |
5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Franklin Park 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 remained the same, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5 | 8 | +60.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Franklin Park in March 2024, up by 60.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Franklin Park, PA
How long does it take to sell a home in Franklin Park, PA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
38 Days | 22 Days | -40.0% |
Summary: Homes in Franklin Park had an average of 22 days on market in Mar 2024, down by 40% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 8 homes were sold in Franklin Park; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.