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Rising Real Estate Prices in Franklin County

As we approach the end of 2023, the real estate market in Chambersburg and the broader Franklin County area has shown significant growth, with both home sales prices and rental rates experiencing notable changes.

Soaring Home Sales Prices

In Chambersburg, the real estate market has been particularly vibrant. The median home sold price soared to $260,000 in September 2023, marking an impressive 20.9% increase from the previous year. The value per square foot also rose to $142, indicating a robust demand for homes in the area. This upward trend was echoed in October, where the median listing price climbed to $310,000, up by 17% compared to last year, with a median listing price per square foot at $154.

Franklin County as a whole wasn’t far behind. The average home price in the county reached approximately $255,250 as of April 2023, a growth of 11.0% year-over-year. The median listing price in the county, as of September, was around $262,849, up by 9.9% from the previous year.

These figures suggest a thriving market, with Chambersburg leading the charge in Franklin County’s real estate boom.

Rental Market: A Mixed Bag

The rental scene in Chambersburg presented a diverse picture. While the range for house rentals varied from $645 to a high of $3,000, the median rent as of July 2023 stood at a modest $1,085, which was surprisingly $10 less than the same period in 2022.

The average rent for different types of apartments as of November 2023 showed an interesting pattern: $850 for a studio, $995 for a 1-bedroom, and $1,138 for a 2-bedroom apartment. The overall average rent in Chambersburg was $1,245 per month, offering options for a wide range of budgets.

1-bedroom and 2-bedroom apartments in Chambersburg were renting for an average of $935 and $1,150, respectively, indicating a balanced market for singles and small families.

Comments

Samuel R Welsh 1945-2024

Samuel was an avid sportsman all his life and enjoyed both playing sports and watching them on the television. He enjoyed playing golf.

Betty Marie Miller 1937-2024

Betty worked for 36 years in the Alumni office of The Mercersburg Academy. She enjoyed travel, knitting, and spending time with family and friends.

M Marie Trostle 1919-2024

She enjoyed sewing, baking, cooking, babysitting and crocheting. She especially enjoyed quilting, where she made over 40 quilts and gave them to her family.

John Harvey Hoffman 1941-2024

John enjoyed target shooting, fishing and was known for telling great stories. He was also very proud of his family and enjoyed spending as much time with them as possible.

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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.