Is Franklin County, VA 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, VA
How much do homes in Franklin County, VA cost?
Median Sold Price
$349,425
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Franklin County have sold for 10.9% more than they did a year ago.
Summary: The median home sold price in Franklin County was $349,425 in April 2024, up 10.9% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $138.5K | $86K | -37.9% |
| 2 Bedrooms | $199K | $225K | +13.1% |
| 3 Bedrooms | $285K | $324.3K | +13.8% |
| 4 Bedrooms | $410K | $450K | +9.8% |
| 5+ Bedrooms | $700K | $950K | +35.7% |
Summary: Franklin County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 37.9%, 2 bedroom homes increased by 13.1%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes increased by 35.7%.
Median Sold Price Compared To Nearby Counties
| Floyd County | $260K | $350K | +34.6% |
| Pittsylvania County | $177.5K | $215K | +21.1% |
| Franklin County | $315K | $349.4K | +10.9% |
| Roanoke County | $287.5K | $309.7K | +7.7% |
Housing Supply in Franklin County, VA
How many homes are available in Franklin County, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 203 | 249 | +22.7% |
Summary: The Franklin County real estate market had 249 homes for sale in April 2024, a 22.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 21 | 26 | +23.8% |
| 3 Bedrooms | 108 | 126 | +16.7% |
| 4 Bedrooms | 46 | 65 | +41.3% |
| 5+ Bedrooms | 26 | 29 | +11.5% |
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 increased by 23.8%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 41.3%, and 5+ bedroom homes increased by 11.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 40 | 48 | +20.0% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
9 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. 54.2% of homes here sold below asking price last month.
Summary: A total of 48 homes were sold or pending in Franklin County in April 2024, up by 20.0% month-over-month. Of the 48 sold homes, 54% were sold under asking, 27% were sold at asking, and 19% were sold over asking.
Days on Market for Franklin County, VA
How long does it take to sell a home in Franklin County, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 2 Days | 56 Days | +2733.3% |
Summary: Homes in Franklin County had an average of 56 days on market in Apr 2024, up by 2733.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Franklin County has remained consistent over time.
Summary: During April 2024, 48 homes were sold in Franklin County; 0% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes. 
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved