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FRANKLIN, VA 23851

Real Estate Market Report
Balanced Market
September 2026  ·  Source: Realtor.com

Market Analysis

Data as of September 2026. Source: Realtor.com.

The FRANKLIN, VA real estate market (23851) currently shows 60 active listings. Homes are averaging 53 days on the market before going under contract.

Inventory has increased compared to last year, with 15 more homes available — giving buyers more choice.

The median listing price has fallen 1.4% year-over-year, from $296,750 to $292,450.

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Market Context

Market Context

Population: 12,983  ·  Density: 46.1/mi²  ·  Median household income: $61,416

Typical home value: $203,039  ·  Homeownership: 62.5%

Market Overview

Active Listings
60
⇧ 33.3% vs 45 last year
Pending
0
0% pending ratio
Median Price
$292,450
⇩ 1.4% vs $296,750 last year
Average Price
$302,062
⇩ 7.9% vs $328,024 last year
Days on Market
53
— vs 53 days last year

Price Per Square Foot

Median $/sqft
$169
⇧ 8.3% vs $156/sqft last year
Median Home Size
1,805 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 60 this year vs 45 last year
  • Days on market: 53 now vs 53 last year

Median & Average Pricing

Year over Year
  • Median: $292,450 (-1.4% YoY)
  • Average: $302,062 (-7.9% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 21.9 miles — 335 listings ($134,426,146 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
23851Franklin, VA 238510.0 mi52$14,905,488$288,450$286,644
23437Suffolk, VA 234378.7 mi20$9,381,220$449,675$469,061
23837Courtland, VA 2383710.3 mi18$6,475,626$316,175$359,757
23878Sedley, VA 2387812.7 mi3$976,464$332,475$325,488
23827Boykins, VA 2382714.1 mi4$1,159,732$334,900$289,933
23438Suffolk, VA 2343815.3 mi13$7,162,246$575,000$550,942
27877Severn, NC 2787715.9 mi2$443,416$221,708$221,708
27862Pendleton, NC 2786216.9 mi2$400,000$200,000$200,000
27986Winton, NC 2798618.2 mi4$1,388,668$290,000$347,167
23487Windsor, VA 2348719.0 mi16$8,528,704$521,243$533,044
23434Suffolk, VA 2343420.6 mi198$80,647,182$379,975$407,309
23844Drewryville, VA 2384421.0 mi1$157,500$157,500$157,500
23897Yale, VA 2389721.9 mi2$2,799,900$1,399,950$1,399,950

Frequently Asked Questions

How many homes are for sale in FRANKLIN, VA 23851?

As of September 2026, there are 60 active listings in FRANKLIN, VA (zip code 23851), compared to 45 the prior year.

What is the median home price in FRANKLIN, VA 23851?

The median listing price in FRANKLIN, VA 23851 is $292,450 as of September 2026, a 1.4% decrease from $296,750 the prior year.

How long do homes stay on the market in FRANKLIN, VA?

Homes in FRANKLIN, VA 23851 spend an average of 53 days on the market before going under contract, compared to 53 days the prior year.

Is it a seller's or buyer's market in FRANKLIN, VA 23851?

Based on current inventory and days-on-market data as of September 2026, FRANKLIN, VA 23851 is currently a Balanced Market. Inventory has increased compared to last year, with 15 more homes available — giving buyers more choice.

How much can I save on real estate commission in FRANKLIN, VA?

With SELL123.com's maximum 3% commission, sellers in FRANKLIN, VA 23851 save an estimated $5,849 compared to a typical 5% commission on the median listing price of $292,450. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.