The Long & Foster Market Minute

Focus On: Franklin County Housing Market March 2021

Units Sold
136
Active Inventory
75
Median Sale Price
$279,039
Days On Market
24
Up 11%
Vs. Year Ago
Down -74%
Vs. Year Ago
Up 12%
Vs. Year Ago
Down -71%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 136 sold this month in Franklin County . This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 214 units or 74%. The total number of active inventory this March was 75 compared to 289 in March 2020. This month's total of 75 is lower than the previous month's total supply of available inventory of 107, a decrease of 30%.

Median Sale Price
Last March, the median sale price for Franklin County was $248,210. This March, the median sale price was $279,039, an increase of 12% or $30,829 compared to last year. The current median sold price is 2% lower than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
136
Current Contracts
152
Sold Vs. List Price
100.6%
Months of Supply
0.6
Down -3%
Vs. Year Ago
Up 16%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Down -77%
Vs. Year Ago

Months of Supply
In March, there was 0.6 months of supply available in Franklin County, compared to 2.4 in March 2020. That is a decrease of 77% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 136 homes newly listed for sale in Franklin County compared to 140 in March 2020, a decrease of 3%. There were 152 current contracts pending sale this March compared to 131 a year ago. The number of current contracts is 16% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Franklin County was 100.6% of the average list price, which is 1.1% higher than at this time last year.
Days on Market
This month, the average number of days on market was 24, lower than the average last year, which was 82, a decrease of 71%.
The Long & Foster Market Minute Franklin County are defined as properties listed in zip code/s .
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by TRIANGLE and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of TRIANGLE or Long & Foster Real Estate, Inc.