Is Franconia, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Franconia has remained a Seller's Market.
Housing Prices in Franconia, VA
How much do homes in Franconia, VA cost?
Median Sold Price
$540,000
$352/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Franconia was $540,000 in April 2024, up 4.9% from last year, and the median price per square foot was $352.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $230K | $290K | +26.1% |
2 Bedrooms | $392.5K | $412K | +5.0% |
3 Bedrooms | $565K | $563.9K | -0.2% |
4 Bedrooms | $690K | $749K | +8.6% |
5+ Bedrooms | $1.1M | $847.5K | -27.1% |
Summary: Franconia housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.1%, 2 bedroom homes increased by 5%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes decreased by 27.1%.
Median Sold Price Compared To Nearby Neighborhoods
Kingstowne | $611K | $642.5K | +5.2% |
Franconia | $515K | $540K | +4.9% |
Rose Hill | $610.7K | $639.1K | +4.6% |
Housing Supply in Franconia, VA
How many homes are available in Franconia, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
44 | 55 | +25.0% |
Summary: The Franconia real estate market had 55 homes for sale in April 2024, a 25.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 1 | -75.0% |
2 Bedrooms | 13 | 19 | +46.2% |
3 Bedrooms | 16 | 24 | +50.0% |
4 Bedrooms | 8 | 6 | -25.0% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Franconia housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 75%, 2 bedroom homes increased by 46.2%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
22 | 19 | -13.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Franconia in April 2024, down by 13.6% month-over-month. Of the 19 sold homes, 11% were sold under asking, 11% were sold at asking, and 79% were sold over asking.
Days on Market for Franconia, VA
How long does it take to sell a home in Franconia, VA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
13 Days | 6 Days | -52.0% |
Summary: Homes in Franconia had an average of 6 days on market in Apr 2024, down by 52% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 19 homes were sold in Franconia; 95% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.