Franklin, Michigan Real Estate Market Report 2026
At Sonic Loans, we've helped thousands of families in Franklin navigate the mortgage process with confidence. Our local expertise makes a difference.
What's Happening in Franklin Real Estate Right Now?
The Sonic team monitors Franklin market conditions weekly, and here's what we're seeing. With active listings varying based on market conditions, Franklin's real estate market reflects a dynamic environment. Homes in Franklin currently sell within an average of 30-45 days, indicating a balanced market where neither buyers nor sellers hold a significant advantage. This average selling time suggests that well-priced homes attract interest quickly, though competition is strong.
With homes selling in an average of 30-45 days, Franklin remains a vibrant market where strategic pricing plays a critical role.
Is Franklin a Buyer's or Seller's Market?
Determining whether Franklin is a buyer's or seller's market requires analyzing both inventory and demand. With active listings varying by market conditions and homes selling in 30-45 days, Franklin currently leans slightly toward a seller's market. This environment means sellers can expect reasonable interest in well-maintained properties, while buyers should be prepared to act swiftly.
A common question we hear at Sonic is: 'Should I buy now or wait?' For Franklin residents, the answer depends on their readiness and financial position. In a market leaning toward sellers, waiting could mean facing higher prices down the line.
How Do Current Interest Rates Affect Franklin Buyers?
The national average 30-year mortgage rate is 6.16% according to Freddie Mac PMMS. This rate influences the cost of borrowing for Franklin homebuyers. While this is a national average, individual rates may vary based on credit scores and other factors. Our lending team at Sonic Loans helps Franklin buyers explore options, including FHA loans with 3.5% down and VA loans for veterans. And unlike most lenders who take 30-45 days, Sonic Loans averages under 2 weeks to close, offering a speed advantage in this competitive market.
Franklin Price Trends: What's Next?
Sonic Realty agents on the ground in Franklin are observing stable yet competitive pricing trends. With varying median home prices by neighborhood, the market's direction will largely depend on economic conditions and inventory levels. Buyers and sellers can expect prices to hold steady if inventory remains stable, but any significant shifts in supply could influence pricing dynamics.
Actionable Advice for Franklin Buyers
- Consider getting pre-approved with Sonic Loans to know your budget before house hunting.
- Stay informed about local inventory changes to seize opportunities as they arise.
- Explore various financing options, including conventional and MSHDA programs, to find the best fit.
- Act quickly when you find a home that meets your criteria, as desirable properties move fast.
Actionable Advice for Franklin Sellers
- Price your home competitively based on recent comparable sales in your area.
- Enhance your home's curb appeal to attract more interest from potential buyers.
- Work with Sonic Realty to strategically market your home across multiple platforms.
- Be prepared for negotiations, as informed buyers will have done their research.
Sellers we work with in Franklin have found that highlighting unique features and recent upgrades can significantly impact the final sale price.
KEY TAKEAWAYS
- Sonic Loans experts report that Franklin's market currently leans toward sellers due to competitive demand and average selling times of 30-45 days.
- The national average mortgage rate is 6.16% according to Freddie Mac PMMS, impacting buyer affordability.
- Sonic Realty agents note that strategic pricing and marketing are crucial for sellers in Franklin.
- Buyers should consider pre-approval and act swiftly in this competitive market environment.
- Working with Sonic Loans and Realty offers a speed advantage, closing mortgages in under 2 weeks.
Whether you're planning to buy or sell in Franklin, our team at Sonic is ready to guide you through the process with expertise and care. Call us at (313) 488-4888 for personalized assistance and to explore your options.
For current rate quotes and APR information specific to your situation, contact Sonic Loans at (313) 488-4888 or visit sonicloans.com. NMLS #1955855. Equal Housing Lender.
RATE DISCLAIMER
The rate of 6.16% referenced in this article is the national average 30-year fixed mortgage rate as reported by the Freddie Mac Primary Mortgage Market Survey (PMMS), published weekly and retrieved via Federal Reserve Economic Data (FRED). This is NOT an advertised rate or APR for any specific loan product offered by Sonic Loans.
Actual mortgage rates and Annual Percentage Rates (APR) offered by Sonic Loans will vary based on:
- Credit score and credit history
- Down payment amount
- Loan amount and property value
- Property type and location
- Loan term and type
For current rate quotes and APR information specific to your situation, contact Sonic Loans at (313) 488-4888 or visit sonicloans.com. NMLS #1955855. Equal Housing Lender.
Fair Housing Notice: We are committed to the letter and spirit of the Fair Housing Act.
We do not discriminate on the basis of race, color, religion, national origin, sex, familial status, or disability.
NMLS #1955855 | Equal Housing Lender
Rates shown are for informational purposes only and are subject to change. Your actual rate will depend on your credit score, loan amount, and other factors.
Sonic Loans is licensed in: Michigan, Florida, Texas, California, Colorado.