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
Since last year, Franklin Township has remained a Seller's Market.
Housing Prices in Franklin Township, PA
How much do homes in Franklin Township, PA cost?
Median Sold Price
$515,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Franklin Township was $515,000 in March 2024, down 7.6% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $390K | $82.5K | -78.8% |
3 Bedrooms | $376.9K | $255K | -32.4% |
4 Bedrooms | $557.6K | $593.7K | +6.5% |
5+ Bedrooms | $683.9K | $974.9K | +42.5% |
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 decreased by 78.8%, 3 bedroom homes decreased by 32.4%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 42.5%.
Median Sold Price Compared To Nearby Cities
Landenberg | $539.5K | $600K | +11.2% |
New London Township | $495.5K | $545K | +10.0% |
Franklin Township | $557.6K | $515K | -7.6% |
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 |
---|---|---|
25 | 23 | -8.0% |
Summary: The Franklin Township real estate market had 23 homes for sale in March 2024, a 8.0% 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 | 0 | 0 | 0.0% |
3 Bedrooms | 4 | 4 | 0.0% |
4 Bedrooms | 15 | 12 | -20.0% |
5+ Bedrooms | 6 | 7 | +16.7% |
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 remained the same, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5 | 6 | +20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Franklin Township in March 2024, up by 20.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% 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 |
---|---|---|
63 Days | 7 Days | -89.0% |
Summary: Homes in Franklin Township had an average of 7 days on market in Mar 2024, down by 89% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 6 homes were sold in Franklin Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.