$309K  
The Franklin City market saw sales remain steady this week at three homes sold over the last 30 days, while it undergoes an identifiable downward trend in price reductions, with five in the same time frame. The median sales price of all transactions in Franklin City did not budge this week, remaining at $120,000. Along with flat sales, a relatively high 28 months of inventory indicates that Franklin City is a strong buyer's market.
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$109K  
A three-week downturn in the number of homes sold was extended this week after the Franklin City market had three transactions over the last 30 days. With four price reductions, the lowest amount since March, the market may be finding a price bottom. In comparison, Chesapeake City had 444 price reductions in the same time frame, the most of all nearby counties. Prices are falling in Franklin City, and this period the median price of all sales fell from $125,250 to $120,000. Franklin City is still a definite buyer's market, due to the availability of 28 months of remaining inventory, even after the uptick in sales.
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$109K  
Typically, Franklin City accounts for 6.2 sales per month. This time sellers weren't able to find buyers for their properties, resulting in another 30 day period of no sales.
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$499K  
Over the last 30 days, no deals were completed in the Franklin City market. It further extends a one-week downward trend in sales.
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$109K  
Franklin City has a cost of living adjustment score of 99.9, which is average when compared to others in Virginia. Also, the area is considered less affluent than average with a median income of $40,767 per household. Franklin City is made up of homes that are considered relatively old with a median of 38 years. The top school in the county is Franklin High School.
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$309K  
Over the last 30 days, the Franklin City market was steady and saw two homes sold. However, the number of pending transactions continued to decline, with a total of five transactions during the same period. Pricing in Franklin City remains consistent from last week to this week, with the median sales price at $104,500 again. Franklin City is a definite buyer's market with 41 months of inventory to choose from, aided by the downturn in contracts.
Comments:

$109K  
The Franklin City market might be slowing down in the coming weeks. Sales fell this week to two homes sold over the last 30 days, and there is a recent downward trend in the number of new listings, with five going live in the same time frame. Potential buyers should note that prices are coming down in Franklin City, and for this period the median sales price slid from $112,750 to $104,500. With decreasing sales and the availability of 37 months of inventory, Franklin City is a definite buyer's market.
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$499K  
Over the last 30 days, the sale of six homes took place in the Franklin City market. This shows a 25.0% dip from the prior period but the area remains on an emerging upward trend. As sales trended higher, prices have been falling. The median sales price dropped to $112,750, extending a four-week long spiral. Franklin City is a definite buyer's market, due to falling prices and a large 12 months of inventory left.
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$329K  
The number of homes coming into the Franklin City market fell to eight listings over the last 30 days, while sales remained right where they were as once again eight homes were sold over the same period. The median sales price climbed to $137,750, up from last week's $131,250. Franklin City is a definite buyer's market, due to a big 10 months of inventory left and aided by the flat sales.
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$329K  
There have been eight homes sold in the Franklin City market over the last 30 days. During the same period, the number of new listings totaled 10, the fewest since April. During the same time frame, Chesapeake City had the most of any other neighboring county with 503 new listings. The median sales price dropped to $131,250, down from last week's $145,000. Franklin City is still a definite buyer's market, even after the decrease in new listings, due to the large nine months of inventory left.
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Hal Ward
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Coldwell Banker Professional Realtors
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Nuvia Rivera & Associates
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