Is Franklin, VA 23851 a buyer’s or seller’s market?

The Franklin housing market right now

In the three months ending August 31, 2026, 27% of homes in Franklin, VA 23851 sold above their list price, the typical home went under contract in 45 days and there were 4.5 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 46 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (28% then), homes sold more slowly (37 days then) and the median sale price rose 4% to $264,885. Overall, Franklin is less competitive than a year ago, which gives buyers more room.

Within Southampton County, homes here sell faster than in 57% of the county’s ZIP codes, and sell more often over asking than in 57%. On our competition score, Franklin ranks #237 of 358 VA ZIP codes with enough sales (score 53 out of 100).

Nearby, buyers who want less competition could look at Sedley 23878 (0% sold over asking) or Newsoms 23874 (0% sold over asking), while Boykins 23827 (80% sold over asking) and Ivor 23866 (33% sold over asking) are even more competitive.