Franklin County Housing Market Report December 2024•Franklin County, Virginia

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Housing Prices in Franklin County, VA

How much do homes in Franklin County, VA cost?

Housing Market Conditions

Is Franklin County, VA a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Franklin County is a Buyer's Market

Difference Since December 2023

At the same time last year, Franklin County was a Seller's Market.

Insight

Franklin County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$359,950$181/SqFt
+$9,866
+2.8%

Based on all homes sold in the last 12 months

Insight

Homes in Franklin County have sold for 2.8% more than they did a year ago.

Summary: The median home sold price in Franklin County was $359,950 in December 2024, up 2.8% from last year, and the median price per square foot was $181.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Roanoke County
+8.3%
Franklin County
+2.8%
Floyd County
-14.1%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1$322K$122K
-62.1%
2$189.7K$223.5K
+17.8%
3$332.9K$340K
+2.1%
4$441.2K$465K
+5.4%
5$760K$625K
-17.8%

Summary: Franklin County housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes decreased by -62.1%. The home price for 2 bedroom homes increased by +17.8%. The home price for 3 bedroom homes increased by +2.1%. The home price for 4 bedroom homes increased by +5.4%. The home price for 5 bedroom homes decreased by -17.8%.

Housing supply in Franklin County, VA

How many homes are available in Franklin County, VA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
204Last MonthDec 2024
1762 months agoNov 2024
+15.9 %
Change MoMNov – Dec

Summary: The Franklin County real estate market had 204 homes for sale in Dec 2024, a 15.9 % increase compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
22Last MonthDec 2024
422 months agoNov 2024
-47.6 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
113
+200.0%
22119
-9.5%
388111
+26.1%
44951
+4.1%
51720
+17.6%

Summary: Franklin County housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes increased by +200.0%. The inventory for 2 bedroom homes decreased by -9.5%. The inventory for 3 bedroom homes increased by +26.1%. The inventory for 4 bedroom homes increased by +4.1%. The inventory for 5 bedroom homes increased by +17.6%.

Asking Price vs. Sold Price

How much do homes in Franklin County, VA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price9 Homes

At Asking Price4 Homes

Under Asking Price9 Homes

Insight

If you're buying a home in Franklin County, you may be able to get a good deal. 40.9% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in Franklin County in December 2024, down by 47.6% month-over-month. Of the 22 sold homes, 41% were sold under asking, 18% were sold at asking, and and 41% were sold over asking.

Days on Market for Franklin County, VA

How long does it take to sell a home in Franklin County, VA?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days0 Home

Over 90 Days0 Home

Insight

Many homes in Franklin County are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 22 homes were sold in Franklin County; 5% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
3 DaysThis YearDec 2024
1 Days1 year agoDec 2023
+200.0 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Franklin County had an average listing age of 3 days in Dec 2024, up by 200.0% compared to the previous year.

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Newest Listings in Franklin County, VA

What homes are available in Franklin County, VA?

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Nearby markets

Popular Cities with Homes for Sale in Virginia

MLS Disclaimers and Copyright

Based on information from Roanoke Valley Association of Realtors MLS, Lynchburg MLS, BrightMLS, and Central Virginia Regional MLS for the period 01/01/2023 - 01/01/2025

IDXAlthough the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.

All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this web site may only use this listing data for their personal, non-commercial benefit. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The unauthorized retrieval or use of this listing data is prohibited.

All information is deemed reliable but not guaranteed, and should be independently verified. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Information is provided by the Lynchburg Association of REALTORS®. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2025 Lynchburg Association of REALTORS®. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:21:08 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2025 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:20:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2025 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.