Is Franklin, TN 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 has remained a Seller's Market.
Key Takeaway
Franklin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franklin, TN
How much do homes in Franklin, TN cost?
Median Sold Price
$858,677
$315/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Franklin have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Franklin was $858,677 in April 2024, up 5.4% from last year, and the median price per square foot was $315.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $305K | $348.7K | +14.3% |
| 2 Bedrooms | $425K | $450K | +5.9% |
| 3 Bedrooms | $640.1K | $652.5K | +1.9% |
| 4 Bedrooms | $950.1K | $974.9K | +2.6% |
| 5+ Bedrooms | $1.2M | $1.3M | +8.0% |
Summary: Franklin housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 8%.
Median Sold Price Compared To Nearby Cities
| Franklin | $814.9K | $858.6K | +5.4% |
| Brentwood | $1.0M | $1.0M | -4.4% |
Housing Supply in Franklin, TN
How many homes are available in Franklin, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 654 | 714 | +9.2% |
Summary: The Franklin real estate market had 714 homes for sale in April 2024, a 9.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 8 | +33.3% |
| 2 Bedrooms | 67 | 67 | 0.0% |
| 3 Bedrooms | 186 | 195 | +4.8% |
| 4 Bedrooms | 241 | 258 | +7.1% |
| 5+ Bedrooms | 154 | 186 | +20.8% |
Summary: The Franklin housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 20.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 136 | 153 | +12.5% |
Asking Price vs. Sold Price
63 Homes Were Sold
Under Asking
54 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin, you may be able to get a good deal. 41.4% of homes here sold below asking price last month.
Summary: A total of 153 homes were sold or pending in Franklin in April 2024, up by 12.5% month-over-month. Of the 152 sold homes, 41% were sold under asking, 36% were sold at asking, and 23% were sold over asking.
Days on Market for Franklin, TN
How long does it take to sell a home in Franklin, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 25 Days | -24.2% |
Summary: Homes in Franklin had an average of 25 days on market in Apr 2024, down by 24.2% compared to last year.
Breakdown of Home Sale Times
112 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Franklin are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 153 homes were sold in Franklin; 73% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2024 Greater Chattanooga Association of REALTORS®.