The Long & Foster Market Minute

Focus On: Franklin County Housing Market March 2021

Units Sold
144
Active Inventory
147
Median Sale Price
$202,500
Days On Market
35
Down -3%
Vs. Year Ago
Down -66%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -50%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 144 sold this month in Franklin County Real Estate versus 125 last month, an increase of 15%. This month's total units sold was lower than at this time last year, a decrease of 3% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 281 units or 66%. The total number of active inventory this March was 147 compared to 428 in March 2020. This month's total of 147 is lower than the previous month's total supply of available inventory of 152, a decrease of 3%.

Median Sale Price
Last March, the median sale price for Franklin County Homes was $193,000. This March, the median sale price was $202,500, an increase of 5% or $9,500 compared to last year. The current median sold price is 1% higher 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
203
Current Contracts
193
Sold Vs. List Price
99.1%
Months of Supply
1.0
Up 15%
Vs. Year Ago
Up 18%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -65%
Vs. Year Ago

Months of Supply
In March, there was 1.0 months of supply available in Franklin County, compared to 2.9 in March 2020. That is a decrease of 65% 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 203 homes newly listed for sale in Franklin County compared to 176 in March 2020, an increase of 15%. There were 193 current contracts pending sale this March compared to 164 a year ago. The number of current contracts is 18% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Franklin County was 99.1% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 35, lower than the average last year, which was 70, a decrease of 50%.

The Long & Foster Market Minute
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.