Is Franklin Township, AR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Franklin Township has remained a Seller's Market.
Key Takeaway
Franklin Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franklin Township, AR
How much do homes in Franklin Township, AR cost?
Median Sold Price
$289,000
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Franklin Township have sold for 14.5% more than they did a year ago.
Summary: The median home sold price in Franklin Township was $289,000 in May 2024, up 14.5% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70K | $145.2K | +107.5% |
| 2 Bedrooms | $240K | $255K | +6.3% |
| 3 Bedrooms | $280K | $270K | -3.6% |
| 4 Bedrooms | $275K | $375K | +36.4% |
| 5+ Bedrooms | $535K | - | N/A |
Summary: Franklin Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 107.5%, 2 bedroom homes increased by 6.3%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Beaver Township | $232.5K | $290K | +24.7% |
| Franklin Township | $252.5K | $289K | +14.5% |
| Roaring River Township | $254K | $279K | +9.8% |
| Eagle Rock | $325K | $279K | -14.2% |
Housing Supply in Franklin Township, AR
How many homes are available in Franklin Township, AR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 14 | -6.7% |
Summary: The Franklin Township real estate market had 14 homes for sale in May 2024, a 6.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Franklin Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Township, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Franklin Township in May 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 75% were sold at asking, and 0% were sold over asking.
Days on Market for Franklin Township, AR
How long does it take to sell a home in Franklin Township, AR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 242 Days | 96 Days | -60.1% |
Summary: Homes in Franklin Township had an average of 96 days on market in May 2024, down by 60.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Franklin Township has remained consistent over time.
Summary: During May 2024, 4 homes were sold in Franklin Township; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Cooperative Arkansas REALTORS® Multiple Listing Services, Inc. Real estate listings, held by brokerage firms other than this broker, are marked with the Broker Reciprocity℠ logo and information about them includes the name of the listing brokers. The IDX information is provided exclusively for consumers’ personal, non-commercial use that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by the MLS. Copyright© 2024 Cooperative Arkansas Realtors MLS. All Rights Reserved.