Is Franklin Township, OH 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.
Housing Prices in Franklin Township, OH
How much do homes in Franklin Township, OH cost?
Median Sold Price
$265,000
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Franklin Township was $265,000 in May 2024, up 6.3% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $480K | $135K | -71.9% |
2 Bedrooms | $126.2K | $155.2K | +23.0% |
3 Bedrooms | $220K | $245K | +11.4% |
4 Bedrooms | $372.5K | $330K | -11.4% |
5+ Bedrooms | $424.6K | $323K | -23.9% |
Summary: Franklin Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 71.9%, 2 bedroom homes increased by 23%, 3 bedroom homes increased by 11.4%, 4 bedroom homes decreased by 11.4%, and 5+ bedroom homes decreased by 23.9%.
Median Sold Price Compared To Nearby Cities
Kent | $205K | $230K | +12.2% |
Streetsboro | $228.9K | $255.3K | +11.5% |
Franklin Township | $249.1K | $265K | +6.3% |
Housing Supply in Franklin Township, OH
How many homes are available in Franklin Township, OH?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
68 | 88 | +29.4% |
Summary: The Franklin Township real estate market had 88 homes for sale in May 2024, a 29.4% increase 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 | 12 | 14 | +16.7% |
3 Bedrooms | 31 | 43 | +38.7% |
4 Bedrooms | 19 | 24 | +26.3% |
5+ Bedrooms | 6 | 7 | +16.7% |
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 increased by 16.7%, 3 bedroom homes increased by 38.7%, 4 bedroom homes increased by 26.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 23 | +4.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Franklin Township in May 2024, up by 4.5% month-over-month. Of the 23 sold homes, 35% were sold under asking, 30% were sold at asking, and 35% were sold over asking.
Days on Market for Franklin Township, OH
How long does it take to sell a home in Franklin Township, OH?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
47 Days | 38 Days | -19.4% |
Summary: Homes in Franklin Township had an average of 38 days on market in May 2024, down by 19.4% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 23 homes were sold in Franklin Township; 43% of homes were sold within 30 days, 52% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.