Franklin County Land Market Update for May 2023

Franklin County Land Market Update for May 2023
 
For buyers and sellers alike, it is important to stay informed and up-to-date on the latest trends and statistics in the real estate market. So, without further ado, let’s dive into the numbers.
 
Currently, there are 5.48 months supply of inventory in Franklin County. This means that if no new listings were added, it would take 5.48 months to sell all the available homes on the market. Over the last 12 months, the months supply of inventory has increased by 31.73%. This indicates that the market is becoming more balanced and less of a seller’s market.
 
The list to sold price percentage in Franklin County is currently at 86.4%. This means that on average, homes and land are selling for 86.4% of their list price. This is a good indicator of the overall health of the market and shows that homes are selling at fair prices.
 
The median days on market in Franklin County is 32. This means that half of the homes on the market sell within 32 days. This is a relatively short time compared to other markets and indicates that there is still a high demand for homes in the area.
 
Finally, the median sold price for land in Franklin County is $42,000. This is an important number for both buyers and sellers as it gives an idea of the overall value of land in the area. It is important to note that this number can vary greatly depending on the type and condition of the land.
 
Overall, the real estate market in Franklin County, North Carolina is showing signs of balance and stability. As a Real Estate Agent, we are here to help guide you through the buying or selling process and provide you with the most up-to-date information to help you make informed decisions.
 
Thank you for watching this market update, and please feel free to reach out to us if you have any questions or would like to learn more about the real estate market in Franklin County.

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