Franklin, VA Home Values & Market Trends

Real estate market trends reflect that there have been 190 transactions over the past year in Franklin. The median value for residential home transactions that occurred over the previous year is $230,979.7. The number of current listings in Franklin is 24, and the percentage of properties for sale in the city is 24.00%. Franklin, VA currently has 8 properties in foreclosure, 5 bank owned properties, 3 properties headed for auction, and 24 properties for sale.

Franklin, VA Real Estate Market Overview

ZipMedian Est. Value
23851

$ 248,500

$ 148/sqft

Housing Market Summary for Franklin, VA

Mar 2023February 2024Change
Median Listing Price$206K$243K17.98%
Median Sold Price$250K$243K-2.78%
Homes For Sale2724-11.11%
Homes Sold951005.26%
Price
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Price Per Square Foot

On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.

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Browse Homes in Franklin, VA

Franklin home values range from $21,685 to $6,493,363. The median estimated value of a home in Franklin is $230,979.7. The median list price of a home is 243,900, and the total count of properties in the city is 5,032.

Foreclosure
There is 1 zips within Franklin, VA; within this zips, the median estimated home value for homes in foreclosure ranges from $396,381 in 23851 to the lowest value of $67,486 in 23851. Foreclosure homes account for 0.00% of properties in Franklin, VA with 23851 containing 8 foreclosures, the highest number of foreclosure properties in a single zip.
  • Pre-Foreclosure
    Pre-foreclosure homes account for 0% of all residential properties in Franklin, VA with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There is 1 zips within Franklin, VA; of that zips, the estimated home value for pre-foreclosure homes ranges from $0 in N/A to the lowest home value of $0 in $[pre-foreclosures-lowest-avm-region].
  • Bank Owned
    The median estimated home value of bank owned homes (REO properties) in Franklin, VA ranges from the highest value of $396,381 in 23851 to the lowest value of $127,694 in 23851. Bank owned homes and properties account for 0.10% of properties in Franklin, VA. There is 1 zips within Franklin, VA; 23851 containing 5 REO properties, has the highest number of bank owned properties in a single zip.
  • Auctions
    23851 has 3 auction properties, the highest number of properties going to auction in a single zip in the state of Franklin, VA. Auction homes and other auction properties account for 0.06% of all properties in Franklin, VA. There is 1 zips within Franklin, VA; of that zips, the median estimated home value for homes going to auction ranges from $215,049 in 23851 to the lowest value of $67,486 in 23851.
Homes for Sale
Homes and properties that are actively listed for sale account for 0.48% of residential properties in Franklin, VA with 23851 containing 24 homes for sale, the highest number of listed properties in a single zip. There is 1 zips within Franklin, VA; homes for sale in that zips, have a range of median values from $493,179 in 23851 to the lowest value of $49,510 in 23851.
    Sold Homes
    The median value for recently sold homes ranges from $5,051,810 in 23851 to the lowest price of $31,196 in 23851. There is 1 zips within Franklin, VA. 23851 has 93 recently sold homes, the highest number of recently sold properties in a single zip. Recently sold homes and properties account for 1.85% of properties in Franklin, VA.

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      Guide for Franklin, VA

      Market Reports
      Virginia Beach House Values Show Impressive Uptrend: Average Value Soars from $375k to $405k in 2023
      gavel for real estate auction
      Home Buying Guides & Tips
      Virginia Foreclosure Laws
      Investing Strategies
      How To Decide Which Real Estate Market To Invest In
      Wholesale
      4 Tips on How To Buy a House Wholesale
      See More Articles
      Virginia Beach House Values Show Impressive Uptrend: Average Value Soars from $375k to $405k in 2023
      Market Reports|posted 13 February 2024

      The property market in Virginia Beach, VA, has generally seen an increase in property values, per square foot values, and sold prices from 2022 to 2023. Factors such as economic growth and societal changes may contribute to this upward trend.

      gavel for real estate auction
      Virginia Foreclosure Laws
      Home Buying Guides & Tips|posted 6 June 2015

      Virginia Foreclosure Laws

      How To Decide Which Real Estate Market To Invest In
      Investing Strategies|posted 8 March 2024

      We list the key factors and strategies to consider when deciding which real estate market to invest in.

      4 Tips on How To Buy a House Wholesale
      Wholesale|posted 8 March 2024

      Looking to buy a house wholesale? Discover 4 essential tips to navigate the wholesale real estate market successfully.