Is Franklin Farm, 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, Franklin Farm has remained a Seller's Market.
Housing Prices in Franklin Farm, VA
How much do homes in Franklin Farm, VA cost?
Median Sold Price
$877,500
$318/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Franklin Farm was $877,500 in April 2024, up 14% from last year, and the median price per square foot was $318.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $450K | $526.5K | +17.0% |
3 Bedrooms | $545.1K | $576K | +5.7% |
4 Bedrooms | $818.8K | $880K | +7.5% |
5+ Bedrooms | $975K | $1.0M | +2.6% |
Summary: Franklin Farm housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 2.6%.
Housing Supply in Franklin Farm, VA
How many homes are available in Franklin Farm, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
33 | 47 | +42.4% |
Summary: The Franklin Farm real estate market had 47 homes for sale in April 2024, a 42.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 2 | +100.0% |
3 Bedrooms | 6 | 7 | +16.7% |
4 Bedrooms | 18 | 26 | +44.4% |
5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The Franklin Farm housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 20 | +66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
18 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Franklin Farm in April 2024, up by 66.7% month-over-month. Of the 20 sold homes, 5% were sold under asking, 5% were sold at asking, and 90% were sold over asking.
Days on Market for Franklin Farm, VA
How long does it take to sell a home in Franklin Farm, VA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
20 Days | 5 Days | -76.0% |
Summary: Homes in Franklin Farm had an average of 5 days on market in Apr 2024, down by 76% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 20 homes were sold in Franklin Farm; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.