Is Franklin Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Franklin Township was a Seller's Market.
Key Takeaway
Franklin Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Franklin Township, NJ
How much do homes in Franklin Township, NJ cost?
Median Sold Price
$333,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Franklin Township have sold for 18.9% more than they did a year ago.
Summary: The median home sold price in Franklin Township was $333,000 in April 2024, up 18.9% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $105K | $232.4K | +121.4% |
| 2 Bedrooms | $235K | $245.5K | +4.5% |
| 3 Bedrooms | $275K | $315K | +14.5% |
| 4 Bedrooms | $435K | $430K | -1.1% |
| 5+ Bedrooms | $600K | $510K | -15.0% |
Summary: Franklin Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 121.4%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 14.5%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes decreased by 15%.
Median Sold Price Compared To Nearby Cities
| Newfield | $249.9K | $351.5K | +40.7% |
| Franklin Township | $280K | $333K | +18.9% |
| Clayton | $239.9K | $280K | +16.7% |
| Franklinville | $316K | $315K | -0.3% |
Housing Supply in Franklin Township, NJ
How many homes are available in Franklin Township, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 89 | 99 | +11.2% |
Summary: The Franklin Township real estate market had 99 homes for sale in April 2024, a 11.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 9 | 14 | +55.6% |
| 3 Bedrooms | 32 | 38 | +18.8% |
| 4 Bedrooms | 38 | 33 | -13.2% |
| 5+ Bedrooms | 8 | 13 | +62.5% |
Summary: The Franklin Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 55.6%, 3 bedroom homes increased by 18.8%, 4 bedroom homes decreased by 13.2%, and 5+ bedroom homes increased by 62.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 11 | -42.1% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Township, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Franklin Township in April 2024, down by 42.1% month-over-month. Of the 11 sold homes, 9% were sold under asking, 36% were sold at asking, and 55% were sold over asking.
Days on Market for Franklin Township, NJ
How long does it take to sell a home in Franklin Township, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 19 Days | -58.1% |
Summary: Homes in Franklin Township had an average of 19 days on market in Apr 2024, down by 58.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Franklin Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 11 homes were sold in Franklin Township; 27% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting. Copyright 2024, CENTRAL JERSEY MULTIPLE LISTING SYSTEM. All Rights Reserved. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM retains all rights, title and interest in and to its trademarks, service marks and copyrighted material.