Is Franklin Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Franklin Township was a Seller's Market.
Key Takeaway
Franklin Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Franklin Township, PA
How much do homes in Franklin Township, PA cost?
Median Sold Price
$210,000
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Franklin Township have sold for 19% more than they did a year ago.
Summary: The median home sold price in Franklin Township was $210,000 in May 2024, up 19% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $172.7K | $220K | +27.4% |
| 3 Bedrooms | $168.2K | $179.9K | +7.0% |
| 4 Bedrooms | $268.5K | $251K | -6.5% |
| 5+ Bedrooms | $444.9K | $256.2K | -42.4% |
Summary: Franklin Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27.4%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 6.5%, and 5+ bedroom homes decreased by 42.4%.
Median Sold Price Compared To Nearby Cities
| Franklin Township | $176.5K | $210K | +19.0% |
| North Sewickley Township | $211K | $225K | +6.6% |
| Zelienople | $475K | $355K | -25.3% |
Housing Supply in Franklin Township, PA
How many homes are available in Franklin Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -7.7% |
Summary: The Franklin Township real estate market had 12 homes for sale in May 2024, a 7.7% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 1 | 1 | 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 25%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 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. 100% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Franklin Township in May 2024, down by 33.3% month-over-month. Of the 2 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Franklin Township, PA
How long does it take to sell a home in Franklin Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 3 Days | -89.3% |
Summary: Homes in Franklin Township had an average of 3 days on market in May 2024, down by 89.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Franklin Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Franklin Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
