Is Franklin County, 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 County has remained a Seller's Market.
Key Takeaway
Franklin County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franklin County, TN
How much do homes in Franklin County, TN cost?
Median Sold Price
$299,900
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Franklin County have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in Franklin County was $299,900 in April 2024, up 3.7% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $62K | $195K | +214.5% |
| 2 Bedrooms | $170K | $199.9K | +17.6% |
| 3 Bedrooms | $278.5K | $294.3K | +5.7% |
| 4 Bedrooms | $577.5K | $470K | -18.6% |
| 5+ Bedrooms | $525K | $617.5K | +17.6% |
Summary: Franklin County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 214.5%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 18.6%, and 5+ bedroom homes increased by 17.6%.
Median Sold Price Compared To Nearby Counties
| Grundy County | $280K | $335K | +19.6% |
| Lincoln County | $235K | $249.9K | +6.3% |
| Coffee County | $288.2K | $299.5K | +3.9% |
| Franklin County | $289.2K | $299.9K | +3.7% |
Housing Supply in Franklin County, TN
How many homes are available in Franklin County, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 304 | 344 | +13.2% |
Summary: The Franklin County real estate market had 344 homes for sale in April 2024, a 13.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 34 | 34 | 0.0% |
| 3 Bedrooms | 173 | 191 | +10.4% |
| 4 Bedrooms | 79 | 95 | +20.3% |
| 5+ Bedrooms | 14 | 18 | +28.6% |
Summary: The Franklin County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 20.3%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 47 | 58 | +23.4% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin County, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.
Summary: A total of 58 homes were sold or pending in Franklin County in April 2024, up by 23.4% month-over-month. Of the 55 sold homes, 73% were sold under asking, 16% were sold at asking, and 11% were sold over asking.
Days on Market for Franklin County, TN
How long does it take to sell a home in Franklin County, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 42 Days | 44 Days | +5.3% |
Summary: Homes in Franklin County had an average of 44 days on market in Apr 2024, up by 5.3% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Franklin County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 58 homes were sold in Franklin County; 48% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 19% 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.