A tight supply and a small number of recent sales call for a patient, specific plan.
If you are trying to decide whether to start looking now or wait, my answer is to start with discipline, not delay. In Franklin, MI, recent closed activity points to a market where choices are limited, so the smartest move is to get clear on your must-haves before you tour anything.
Over the previous 30 days, supply in Franklin, MI stood at 2.5 months, and that sits in seller's market territory. At the same time, there were 10 active listings at month end, 2 pending listings, and 2 sold listings, so this is not a market where you can count on a wide bench of options appearing all at once.
For a buyer, that changes the search process more than the headline price. A typical asking price among active homes was $1,124,500 last month, while new listings came on at a typical $1,262,450, and the median estimated property value was $927,620. My read is simple when selection is limited and price points vary this much, the real risk is chasing homes that do not fit your plan or hesitating until the right one is gone.
I would narrow your search to the features you will keep long term. I would also review every available option in Franklin, MI against one decision standard, not emotion. Move quickly when a home fits, and walk away fast when it does not.
