Is New Franklin, OH 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, New Franklin has remained a Seller's Market.
Housing Prices in New Franklin, OH
How much do homes in New Franklin, OH cost?
Median Sold Price
$235,000
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in New Franklin was $235,000 in April 2024, up 4.4% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $43K | - | N/A |
2 Bedrooms | $151.5K | $177K | +16.8% |
3 Bedrooms | $220K | $225K | +2.3% |
4 Bedrooms | $274.9K | $290K | +5.5% |
5+ Bedrooms | $282.2K | $350K | +24.0% |
Summary: New Franklin 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 16.8%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 24%.
Median Sold Price Compared To Nearby Cities
Coventry Township | $176.5K | $200K | +13.3% |
Barberton | $135K | $150K | +11.1% |
New Franklin | $225K | $235K | +4.4% |
Lawrence Township | $230K | $235K | +2.2% |
Norton | $247.1K | $239.9K | -2.9% |
Housing Supply in New Franklin, OH
How many homes are available in New Franklin, OH?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
41 | 37 | -9.8% |
Summary: The New Franklin real estate market had 37 homes for sale in April 2024, a 9.8% decrease 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 | 5 | 7 | +40.0% |
3 Bedrooms | 17 | 15 | -11.8% |
4 Bedrooms | 14 | 11 | -21.4% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The New Franklin 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 40%, 3 bedroom homes decreased by 11.8%, 4 bedroom homes decreased by 21.4%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 13 | +8.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in New Franklin in April 2024, up by 8.3% month-over-month. Of the 13 sold homes, 46% were sold under asking, 15% were sold at asking, and 38% were sold over asking.
Days on Market for New Franklin, OH
How long does it take to sell a home in New Franklin, OH?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
30 Days | 38 Days | +26.1% |
Summary: Homes in New Franklin had an average of 38 days on market in Apr 2024, up by 26.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 13 homes were sold in New Franklin; 54% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.