Is Franklin Township, 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 Township was a Buyer's Market.
Key Takeaway
Franklin Township 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 Township, PA
How much do homes in Franklin Township, PA cost?
Median Sold Price
$275,000
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Franklin Township have sold for 4.4% less than they did a year ago.
Summary: The median home sold price in Franklin Township was $275,000 in March 2024, down 4.4% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $85K | - | N/A |
| 2 Bedrooms | $43K | $92.5K | +115.1% |
| 3 Bedrooms | $221.9K | $275K | +23.9% |
| 4 Bedrooms | $376.3K | $295.9K | -21.4% |
| 5+ Bedrooms | $492K | $329.9K | -32.9% |
Summary: Franklin 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 115.1%, 3 bedroom homes increased by 23.9%, 4 bedroom homes decreased by 21.4%, and 5+ bedroom homes decreased by 32.9%.
Median Sold Price Compared To Nearby Cities
| Franklin Township | $287.6K | $275K | -4.4% |
| Lower Towamensing Township | $300K | $240K | -20.0% |
Housing Supply in Franklin Township, PA
How many homes are available in Franklin Township, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 18 | -18.2% |
Summary: The Franklin Township real estate market had 18 homes for sale in March 2024, a 18.2% decrease 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 15 | 12 | -20.0% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Franklin 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 remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Franklin Township in March 2024, down by 57.1% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Franklin Township, PA
How long does it take to sell a home in Franklin Township, PA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 57 Days | 23 Days | -58.8% |
Summary: Homes in Franklin Township had an average of 23 days on market in Mar 2024, down by 58.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Franklin Township has remained consistent over time.
Summary: During March 2024, 3 homes were sold in Franklin Township; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
