Is Franklin County, VA 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, VA
How much do homes in Franklin County, VA cost?
Median Sold Price
$340,000
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Franklin County have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Franklin County was $340,000 in March 2024, up 8.7% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $204.5K | $322K | +57.5% |
| 2 Bedrooms | $225K | $219.9K | -2.2% |
| 3 Bedrooms | $282.6K | $320K | +13.2% |
| 4 Bedrooms | $407.5K | $440K | +8.0% |
| 5+ Bedrooms | $700K | $950K | +35.7% |
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 57.5%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 35.7%.
Median Sold Price Compared To Nearby Counties
| Floyd County | $260K | $350K | +34.6% |
| Pittsylvania County | $176K | $209.5K | +19.0% |
| Franklin County | $312.7K | $340K | +8.7% |
| Roanoke County | $288.6K | $306.1K | +6.0% |
| Henry County | $195K | $154.5K | -20.8% |
Housing Supply in Franklin County, VA
How many homes are available in Franklin County, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 175 | 239 | +36.6% |
Summary: The Franklin County real estate market had 239 homes for sale in March 2024, a 36.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 16 | 24 | +50.0% |
| 3 Bedrooms | 92 | 124 | +34.8% |
| 4 Bedrooms | 43 | 57 | +32.6% |
| 5+ Bedrooms | 23 | 31 | +34.8% |
Summary: The Franklin County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 34.8%, 4 bedroom homes increased by 32.6%, and 5+ bedroom homes increased by 34.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 28 | 32 | +14.3% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 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. 65.6% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in Franklin County in March 2024, up by 14.3% month-over-month. Of the 32 sold homes, 66% were sold under asking, 9% were sold at asking, and 25% were sold over asking.
Days on Market for Franklin County, VA
We’re sorry, we don't have information for this market at the moment
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