Is Franklin Park, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Franklin Park was a Neutral Market.
Key Takeaway
Franklin Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franklin Park, PA
How much do homes in Franklin Park, PA cost?
Median Sold Price
$515,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Franklin Park have sold for 14.4% more than they did a year ago.
Summary: The median home sold price in Franklin Park was $515,000 in April 2024, up 14.4% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $231K | $272.5K | +18.0% |
| 3 Bedrooms | $364K | $370K | +1.6% |
| 4 Bedrooms | $516.2K | $589.7K | +14.2% |
| 5+ Bedrooms | $736.7K | $855.1K | +16.1% |
Summary: Franklin Park 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 18%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 14.2%, and 5+ bedroom homes increased by 16.1%.
Median Sold Price Compared To Nearby Cities
| Bell Acres | $485K | $665K | +37.1% |
| Franklin Park | $450K | $515K | +14.4% |
| Wexford | $441.3K | $500K | +13.3% |
| Marshall Township | $529K | $550K | +4.0% |
| Economy | $285K | $277.5K | -2.6% |
Housing Supply in Franklin Park, PA
How many homes are available in Franklin Park, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 38 | 47 | +23.7% |
Summary: The Franklin Park real estate market had 47 homes for sale in April 2024, a 23.7% 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 22 | 28 | +27.3% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The Franklin Park 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 decreased by 50%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Park, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Franklin Park in April 2024, up by 12.5% month-over-month. Of the 9 sold homes, 44% were sold under asking, 0% were sold at asking, and 56% were sold over asking.
Days on Market for Franklin Park, PA
How long does it take to sell a home in Franklin Park, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 19 Days | 28 Days | +43.1% |
Summary: Homes in Franklin Park had an average of 28 days on market in Apr 2024, up by 43.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Franklin Park are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in Franklin Park; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
