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
Since last year, Franklin Township has remained a Seller's Market.
Key Takeaway
Franklin Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franklin Township, NJ
How much do homes in Franklin Township, NJ cost?
Median Sold Price
$410,360
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Franklin Township have sold for 35% more than they did a year ago.
Summary: The median home sold price in Franklin Township was $410,360 in April 2024, up 35% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $238K | $278.5K | +17.0% |
| 3 Bedrooms | $290K | $355K | +22.4% |
| 4 Bedrooms | $569.9K | $714K | +25.3% |
| 5+ Bedrooms | $525.4K | $787.5K | +49.9% |
Summary: Franklin Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17%, 3 bedroom homes increased by 22.4%, 4 bedroom homes increased by 25.3%, and 5+ bedroom homes increased by 49.9%.
Median Sold Price Compared To Nearby Cities
| Franklin Township | $304K | $410.3K | +35.0% |
| Pittstown | $700K | $780K | +11.4% |
| Clinton Township | $471K | $471.8K | 0.2% |
| Annandale | $431.3K | $423.2K | -1.9% |
| Clinton | $425K | $388.5K | -8.6% |
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 |
|---|---|---|
| 32 | 41 | +28.1% |
Summary: The Franklin Township real estate market had 41 homes for sale in April 2024, a 28.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 14 | 18 | +28.6% |
| 4 Bedrooms | 11 | 11 | 0.0% |
| 5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The Franklin Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 28.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Township, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Franklin Township in April 2024, up by 16.7% month-over-month. Of the 7 sold homes, 0% were sold under asking, 43% were sold at asking, and 57% were sold over asking.
Days on Market for Franklin Township, NJ
We’re sorry, we don't have information for this market at the moment
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.
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.