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Franklin County Housing Snapshot, Rates over 2023

The housing market in Franklin County, is quite competitive, with an average house price of $325,000, up 16.1% since last year. The market has seen various changes in inventory and pricing, making it essential for buyers and sellers to understand the current trends.

Price Trends by Bedroom Count

  • 1 Bedroom Homes: No change in price
  • 2 Bedroom Homes: Increased by 25%
  • 3 Bedroom Homes: Increased by 13.7%
  • 4 Bedroom Homes: Increased by 32%
  • 5+ Bedroom Homes: Increased by 9.6%

Inventory Changes

  • 1 Bedroom Homes: No change
  • 2 Bedroom Homes: Decreased by 3.8%
  • 3 Bedroom Homes: Decreased by 6.8%
  • 4 Bedroom Homes: Decreased by 3.3%
  • 5+ Bedroom Homes: Increased by 8%

Sale Dynamics

  • Homes Sold Under Asking: 31%
  • Homes Sold At Asking: 39%
  • Homes Sold Over Asking: 29%

Time on Market

The average time a home stays on the market has increased to 17 days, up by 20.2% compared to last year.

Key Takeaways

  1. Buyer’s Perspective: If you’re planning to buy, expect to pay close to the asking price, as 39.2% of homes sold near the asking price last month.
  2. Seller’s Perspective: With a 2.0% month-over-month increase in homes sold or pending, it’s a favorable market for sellers.
  3. Act Fast: Many homes are selling quickly, so both buyers and sellers need to act fast to capitalize on current market conditions.

Who We Are

The Franklin County Free Press, established by Vicky Taylor in 2019, emerged as a beacon of local journalism for the residents of Franklin County. Under Vicky's leadership, it quickly became an essential source of news, particularly at a time when major newspaper publications were increasingly overlooking local coverage.

On January 1, 2022, the torch was passed to Nathan Neil and his firm, Neil Publishing, LLC. Neil, a local entrepreneur with multiple thriving businesses in Chambersburg, shares Vicky's fervent commitment to both the community and the world of local journalism.

Rooted in the heart of Franklin County and powered by its residents, the Franklin County Free Press continues to bridge the gap, ensuring that the local stories, events, and issues that matter most to the community remain in the spotlight.