Is Franklin, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Franklin has remained a Seller's Market.
Housing Prices in Franklin, TN
How much do homes in Franklin, TN cost?
Median Sold Price
$874,566
$314/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Franklin was $874,566 in June 2024, up 6.6% from last year, and the median price per square foot was $314.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $342.5K | $269.9K | -21.2% |
2 Bedrooms | $410K | $475K | +15.9% |
3 Bedrooms | $630K | $664.8K | +5.5% |
4 Bedrooms | $950K | $985.3K | +3.7% |
5+ Bedrooms | $1.3M | $1.2M | -3.8% |
Summary: Franklin housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.2%, 2 bedroom homes increased by 15.9%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 3.8%.
Median Sold Price Compared To Nearby Cities
Franklin | $820.6K | $874.5K | +6.6% |
Brentwood | $1.0M | $1.0M | -1.1% |
Housing Supply in Franklin, TN
How many homes are available in Franklin, TN?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
803 | 815 | +1.5% |
Summary: The Franklin real estate market had 815 homes for sale in June 2024, a 1.5% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 7 | 0.0% |
2 Bedrooms | 71 | 69 | -2.8% |
3 Bedrooms | 217 | 224 | +3.2% |
4 Bedrooms | 330 | 317 | -3.9% |
5+ Bedrooms | 178 | 198 | +11.2% |
Summary: The Franklin housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 2.8%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 3.9%, and 5+ bedroom homes increased by 11.2%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
209 | 176 | -15.8% |
Asking Price vs. Sold Price
79 Homes Were Sold
Under Asking
56 Homes Were Sold
At Asking
40 Homes Were Sold
Over Asking
Summary: A total of 176 homes were sold or pending in Franklin in June 2024, down by 15.8% month-over-month. Of the 175 sold homes, 45% were sold under asking, 32% were sold at asking, and 23% were sold over asking.
Days on Market for Franklin, TN
How long does it take to sell a home in Franklin, TN?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
24 Days | 17 Days | -25.6% |
Summary: Homes in Franklin had an average of 17 days on market in Jun 2024, down by 25.6% compared to last year.
Breakdown of Home Sale Times
141 Homes Were Sold
Under 30 Days
28 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During June 2024, 176 homes were sold in Franklin; 80% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.