Photo: Lrgjr72 · CC BY-SA 4.051 homes sold in Franklin in the last year, at a typical $967K
Almost every sale is a house. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Franklin homes are listed.
Every place Franklin homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Franklin.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
Houses are 100% of Franklin’s sales, at a typical $967K
51 homes sold in the year to May 2026.
typical sale · 51 sold in 12 months
- Per square foot
- $291MI $172
- Days to sell
- 48
- Sold over asking
- 27%
- Listings with a price cut
- 23%
About as many homes sell as usual, at 1.8 times the 2016 price
51 sales in the last year, against 62 in 2015 and a low of 32 in 2023. The typical sale went from $532K in 2016 to $967K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $950K buys in Franklin
Check a listing against what Franklin homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Franklin are more common than before the pandemic, but 61% fewer homes come up for sale
We read every month of Franklin’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 51 sales.
If you’re buying in Franklin
- Shop in May. It brings about 11 new listings a month, close to the busiest month, with fewer bidding wars (27% over asking).
- Less room to haggle. Only 21% of listings cut their price, against 25% before the pandemic.
- Offer under asking. Buyers paid 96.7% of the list price on average; 27% paid over.
- You’ll usually have time. Only 40% of homes go under contract within two weeks; the typical one takes 48 days.
Spring brings both the most homes and the most bidding wars
May has the most new listings (about 11 a month), and the most competition: 27% close over asking. November has the least competition (7%) but only about 3 new listings.
Averages for each calendar month, 2015 on.
Nearly as heated as 2021, and about like Michigan as a whole
| Franklin now | 2017–19 | 2021 peak | MI now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 27% | 7% | 22% | 31% |
| Gone within two weeksShare of homes under contract within 14 days | 40% | 21% | 37% | 43% |
| Listings with a price cutShare of homes for sale that cut their price | 21% | 25% | 22% | 28% |
| Price paid vs. askingAverage sale price ÷ list price | 96.7% | 95% | 96.8% | 98.4% |
| Days to sellMedian days from listing to contract | 48 | 93 | 53 | 33 |
9 homes for sale on a typical day
That’s 61% fewer than in 2017–19 and well under 2014’s 36.
1 in 5 listings has cut its price
21% in the last year, against 25% in 2017–19 and 28% across Michigan.
Source: Redfin Data Center, city market tracker, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Franklin home costs about $6,021 a month
Price: Franklin’s typical sale, last 12 months. Property tax at Franklin’s 1.2% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Franklin is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in May
The month with the most choice. December has the fewest, about 2.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $967K home, about $11,700 a year.
Taxes vs. neighborsSchools
The schools grade for Franklin, from test results, graduation and how much students grow.
Schools in FranklinTypical commute
The average one-way trip to work for people who live in Franklin.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Beverly Hills, Southfield, Lathrup Village, Farmington Hills and Bloomfield Hills sell for less a square foot
The busier markets within 25 miles of Franklin, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Farmington Hills | 861 | $374K | $181 | 40% | 23 |
| Southfield | 637 | $243K | $144 | 33% | 34 |
| Birmingham | 426 | $857K | $359 | 23% | 29 |
| Beverly Hills | 161 | $591K | $269 | 37% | 19 |
| Bloomfield Hills | 82 | $1.2M | $272 | 23% | 36 |
| Franklin | 51 | $967K | $291 | 27% | 48 |
| Lathrup Village | 50 | $338K | $155 | 44% | 33 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Franklin, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Franklin. People who follow the town see it, and so do people comparing Franklin with their own town. No commission, no listing fee.
Questions about buying a home in Franklin
What do homes sell for in Franklin, MI?
51 homes sold in the year to May 2026 at a typical $967K, $291 a square foot.
Is Franklin a buyer’s or seller’s market?
A seller’s market: 11 homes were for sale in May 2026 and 7 sold, about 1.6 months of supply. Buyers paid 96.7% of asking on average, and 21% of listings cut their price.
When is the best time to buy in Franklin?
May brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Franklin?
About 1.2% of a home’s value a year. On a $967K home that’s near $11,700.
Where can I see homes for sale in Franklin?
Zillow, Redfin, Realtor.com and Homes.com all carry Franklin’s MLS listings; the search links above open each one filtered to Franklin.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).