Is Franklin County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Franklin County is a seller's market

Buyer's
Market

Difference Since November 2021

Since last year, Franklin County has remained a Seller's Market.

Key Takeaway

Franklin County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Franklin County, VA cost?

Median Sold Price

$305,729

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$15,845(+5.5%)

Key Takeaway

Homes in Franklin County have sold for 5.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $110.5K$204.5K
+85.1%
2 $160K$232.5K
+45.3%
3 $263.3K$276.8K
+5.1%
4 $409.9K$415K
+1.2%
5+ $680K$690K
+1.5%

Median Sold Price Compared To Nearby Counties

Roanoke County
+12.4%
Franklin County
+5.5%
Floyd County
+3.8%

How many homes are available in Franklin County, VA?

Number of Homes For Sale

Oct 2022Nov 2022%
194182-6.2%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 11
0.0%
2 2424
0.0%
3 10398
-4.9%
4 4638
-17.4%
5+ 2021
+5.0%

Number of Homes Sold

Oct 2022Nov 2022%
5031-38.0%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Franklin County, you may be able to get a good deal. 38.7% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
26 Days4 Days-84.8%

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Franklin County are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Franklin County, VA

Number of homes for sale in Franklin County, VA real estate market have reached 182. The number of homes for sale in Franklin County, VA decreased by 6.2% between October 2022 and November 2022. In November 2022 median list price was $305,729 and the average listing age was 4 days. From October 2022 through November 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties went up by 85.1%, prices of 2 bedrooms properties increased by 45.3%, the cost of 3 bedrooms properties went up by 5.1%, 4 bedrooms properties became 1.2% more expensive, 5 bedrooms properties prices increased by 1.5%. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes inventory did not change, 2 bedrooms homes inventory did not change, 3 bedrooms homes became 4.9% less available, volume of 4 bedrooms homes went down by 17.4%, number of 5 bedrooms homes increased by 5%. Over 12 listings were sold over their listed price in November 2022 in Franklin County, VA. In the same period over 12 listings were sold below the listed price and 7 listings were sold for the listed price.

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