Is Franklinville, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Franklinville is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Franklinville has remained a Seller's Market.

Key Takeaway

Franklinville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Franklinville, NJ

How much do homes in Franklinville, NJ cost?

Median Sold Price

$340,000

$205/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$30,000(+9.7%)

Key Takeaway

Homes in Franklinville have sold for 9.7% more than they did a year ago.

Summary: The median home sold price in Franklinville was $340,000 in October 2024, up 9.7% from last year, and the median price per square foot was $205.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $194.9K-
N/A
2 $215K$247.5K
+15.1%
3 $305K$327.4K
+7.4%
4 $455K$385K
-15.4%
5+ $483.5K$480K
-0.7%

Summary: Franklinville housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.1%, 3 bedroom homes increased by 7.4%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes decreased by 0.7%.

Median Sold Price Compared To Nearby Cities

Franklin Township
+18.6%
Clayton
+10.9%
Williamstown
+10.4%
Franklinville
+9.7%

Housing Supply in Franklinville, NJ

How many homes are available in Franklinville, NJ?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4148+17.1%

Summary: The Franklinville real estate market had 48 homes for sale in October 2024, a 17.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 37
+133.3%
3 2627
+3.8%
4 1012
+20.0%
5+ 11
0.0%

Summary: The Franklinville housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 133.3%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
513+160.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Franklinville, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in Franklinville in October 2024, up by 160.0% month-over-month. Of the 13 sold homes, 23% were sold under asking, 31% were sold at asking, and 46% were sold over asking.

Days on Market for Franklinville, NJ

How long does it take to sell a home in Franklinville, NJ?

Average Sale Time

Oct 2023Oct 2024CHANGE
17 Days43 Days+140.5%

Summary: Homes in Franklinville had an average of 43 days on market in Oct 2024, up by 140.5% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Franklinville are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 13 homes were sold in Franklinville; 46% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 11 Days Ago

Newest Listings in Franklinville, NJ

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