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Featured local agent — Franklin, MI
Sarah Mitchell
Compass Real Estate · Franklin, MI
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Franklin, MI Housing Market & Real Estate
Housing market overview · Updated monthly ·
$740,000median sale price
How is the Franklin, MI housing market right now?
The median home sale price in Franklin, MI is $740,000, down 60.6% year-over-year. Homes sell in an average of 12 days with 11 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Franklin a buyer's or seller's market?
Franklin, MI is currently a strong seller's market, based on 1.6 months of supply and homes selling in about 12 days. How we determine this →
Homes sold
7
Last 12 weeks
Days on market
12
Fast-moving
Active listings
11
1.6 months supply
Sale-to-list
102.5%
Above asking
What does the Franklin housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $740,000 |
| Median list price | $1.15M |
| Year-over-year price change | -60.6% |
| Average days on market | 12 days |
| Active inventory | 11 listings |
| Months of supply | 1.6 months |
| Sale-to-list price ratio | 102.5% |
| Median price per sq ft | $295/sq ft |
| Homes sold (latest month) | 7 |
| New listings (latest month) | 7 |
| Listings with a price cut | 36.4% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Franklin by property type?
How the Franklin, MI market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $740,000 | $295/sq ft | 7 | 12 days |
| Condo / Co-op | $1.31M | $417/sq ft | 2 | 32 days |
Source: Redfin · Updated monthly
The Franklin housing market is currently classified as a strong seller's market with a median sale price of $740,000. Prices have fallen 60.6% compared to last year, with homes spending an average of 12 days on market, indicating 1.6 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 5.3x provides context for how home values compare to local earning capacity.
Homes for sale in Franklin
There are currently 11 homes listed for sale in Franklin, Michigan. The median listing price is $1.1M.
Active listings
11
Homes on market
Median list price
$1.1M
Avg. days on market
12
Days until sale
New this week
7
Newly listed
Who lives in Franklin?
Population
2,610
Median income
$176,571/yr
Median age
49.6 years
Owner-occupied
94.9%
College grads
80.3%
Avg commute
23.8 min
Source: U.S. Census Bureau ACS
What are homes worth in Franklin?
Zillow home value
$932,384
Price-to-income
5.3x
Source: Zillow Research
What is it like to live in Franklin?
Franklin is a community of approximately 3K residents with a median age of 49.6 years.The median household income is $176,571, which reflects a relatively affluent area with strong earning potential. 80.3% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 94.9%, reflecting strong community stability and long-term resident commitment. The average commute time is 23.8 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Franklin offers a balanced lifestyle with accessible home values relative to local income levels.
Which cities are near Franklin, MI?
Want a head-to-head view? Compare Franklin side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Franklin?
The median home sale price in Franklin is $740,000, down 60.6% from last year.
How long do homes stay on market in Franklin?
Homes typically spend 12 days on market before going under contract.
What is the median income in Franklin?
The median household income is $176,571 per year.
Is Franklin a buyer's or seller's market?
With 1.6 months of supply, Franklin is currently a strong seller's market.
What is the Zillow home value estimate for Franklin?
The Zillow Home Value Index (ZHVI) for Franklin is $932,384, representing the typical home value in the area.
What is the median condo price in Franklin?
The median condo/co-op sale price in Franklin, MI is $1.31M, compared to $740,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Franklin?
The median single-family home price in Franklin, MI is $740,000 (about $295 per square foot).
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