Franklin Housing Market Report December 2024•Milwaukee County, Wisconsin

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Housing Prices in Franklin, WI

How much do homes in Franklin, WI cost?

Housing Market Conditions

Is Franklin, WI 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 is a Seller's Market

Difference Since December 2023

Since last year, Franklin has remained a Seller's Market.

Insight

Franklin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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.
$400,000$203/SqFt
+$23,000
+6.1%

Based on all homes sold in the last 12 months

Insight

Homes in Franklin have sold for 6.1% more than they did a year ago.

Summary: The median home sold price in Franklin was $400,000 in December 2024, up 6.1% from last year, and the median price per square foot was $203.

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
Hales Corners
+7.4%
Franklin
+6.1%
Greenfield
+3.5%
Oak Creek
+2.8%
Greendale
+0.9%

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-$162K
N/A
2$250K$265K
+6.0%
3$389K$413K
+6.2%
4$543.2K$557.5K
+2.6%
5$734.3K$731.5K
-0.4%

Summary: Franklin housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +6.0%. The home price for 3 bedroom homes increased by +6.2%. The home price for 4 bedroom homes increased by +2.6%. The home price for 5 bedroom homes decreased by -0.4%.

Housing supply in Franklin, WI

How many homes are available in Franklin, WI?

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
69Last MonthDec 2024
972 months agoNov 2024
-28.9 %
Change MoMNov – Dec

Summary: The Franklin real estate market had 69 homes for sale in Dec 2024, a 28.9 % decrease 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
27Last MonthDec 2024
352 months agoNov 2024
-22.9 %
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
100
0.0%
23024
-20.0%
34831
-35.4%
41914
-26.3%
500
0.0%

Summary: Franklin housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -20.0%. The inventory for 3 bedroom homes decreased by -35.4%. The inventory for 4 bedroom homes decreased by -26.3%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Franklin, WI 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 Price16 Homes

At Asking Price6 Homes

Under Asking Price5 Homes

Insight

If you're buying a home in Franklin, you could pay more than the asking price. 59.3% of homes here sold above asking price last month.

Summary: A total of 27 homes were sold or pending in Franklin in December 2024, down by 22.9% month-over-month. Of the 27 sold homes, 19% were sold under asking, 22% were sold at asking, and and 59% were sold over asking.

Days on Market for Franklin, WI

We’re sorry, we don't have information for this market at the moment.

Home sale times aren’t available for this area.

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Newest Listings in Franklin, WI

What homes are available in Franklin, WI?

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MLS Disclaimers and Copyright

Based on information from Wisconsin Real Estate Exchange, for the period 01/01/2023 - 01/01/2025

© 2025 WIREX - All Rights Reserved.

Information is supplied by seller and other third parties and has not been verified. All information deemed reliable but not guaranteed and should be independently verified. Information is supplied by seller and other third parties and has not been verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker nor this broker nor MLS shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase.
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, 10:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.