Is Franklin Township, NC 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 Township has remained a Seller's Market.
Housing Prices in Franklin Township, NC
How much do homes in Franklin Township, NC cost?
Median Sold Price
$300,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Franklin Township was $300,000 in April 2024, up 15.1% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110.1K | $160K | +45.3% |
2 Bedrooms | $178K | $232.5K | +30.6% |
3 Bedrooms | $265K | $313.5K | +18.3% |
4 Bedrooms | $355K | $360.5K | +1.5% |
5+ Bedrooms | $399.9K | $475K | +18.8% |
Summary: Franklin Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.3%, 2 bedroom homes increased by 30.6%, 3 bedroom homes increased by 18.3%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 18.8%.
Median Sold Price Compared To Nearby Cities
Franklin Township | $260.6K | $300K | +15.1% |
Spencer | $212K | $240K | +13.2% |
Salisbury Township | $243.2K | $270.1K | +11.0% |
Salisbury | $250K | $274.9K | +10.0% |
Locke Township | $285K | $311K | +9.1% |
Housing Supply in Franklin Township, NC
How many homes are available in Franklin Township, NC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
110 | 120 | +9.1% |
Summary: The Franklin Township real estate market had 120 homes for sale in April 2024, a 9.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 18 | 21 | +16.7% |
3 Bedrooms | 56 | 60 | +7.1% |
4 Bedrooms | 27 | 31 | +14.8% |
5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Franklin Township 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 16.7%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
17 | 32 | +88.2% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 32 homes were sold or pending in Franklin Township in April 2024, up by 88.2% month-over-month. Of the 32 sold homes, 44% were sold under asking, 25% were sold at asking, and 31% were sold over asking.
Days on Market for Franklin Township, NC
How long does it take to sell a home in Franklin Township, NC?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
30 Days | 48 Days | +59.6% |
Summary: Homes in Franklin Township had an average of 48 days on market in Apr 2024, up by 59.6% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During April 2024, 32 homes were sold in Franklin Township; 59% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.