Is Franklin County, TN 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 Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Franklin County, TN
How much do homes in Franklin County, TN cost?
Median Sold Price
$297,725
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Franklin County have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in Franklin County was $297,725 in March 2024, up 3.7% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $61K | $162.9K | +167.1% |
| 2 Bedrooms | $170K | $199K | +17.1% |
| 3 Bedrooms | $275.4K | $292K | +6.0% |
| 4 Bedrooms | $575K | $490K | -14.8% |
| 5+ Bedrooms | $525K | $601.5K | +14.6% |
Summary: Franklin County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 167.1%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 6%, 4 bedroom homes decreased by 14.8%, and 5+ bedroom homes increased by 14.6%.
Median Sold Price Compared To Nearby Counties
| Grundy County | $265K | $325K | +22.6% |
| Lincoln County | $234.2K | $248.2K | +6.0% |
| Franklin County | $287K | $297.7K | +3.7% |
| Coffee County | $289K | $296.6K | +2.6% |
Housing Supply in Franklin County, TN
How many homes are available in Franklin County, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 310 | 321 | +3.5% |
Summary: The Franklin County real estate market had 321 homes for sale in March 2024, a 3.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 31 | 33 | +6.5% |
| 3 Bedrooms | 188 | 184 | -2.1% |
| 4 Bedrooms | 74 | 85 | +14.9% |
| 5+ Bedrooms | 14 | 16 | +14.3% |
Summary: The Franklin County 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 increased by 6.5%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 37 | 44 | +18.9% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
6 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. 63.6% of homes here sold below asking price last month.
Summary: A total of 44 homes were sold or pending in Franklin County in March 2024, up by 18.9% month-over-month. Of the 44 sold homes, 64% were sold under asking, 23% were sold at asking, and 14% were sold over asking.
Days on Market for Franklin County, TN
How long does it take to sell a home in Franklin County, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 74 Days | 62 Days | -16.4% |
Summary: Homes in Franklin County had an average of 62 days on market in Mar 2024, down by 16.4% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
13 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, 44 homes were sold in Franklin County; 45% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.