Is Franklin, 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 has remained a Seller's Market.
Key Takeaway
Franklin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franklin, NJ
How much do homes in Franklin, NJ cost?
Median Sold Price
$325,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Franklin have sold for 24.5% more than they did a year ago.
Summary: The median home sold price in Franklin was $325,000 in April 2024, up 24.5% 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 | $237K | $275K | +16.0% |
| 3 Bedrooms | $278.8K | $300K | +7.6% |
| 4 Bedrooms | $384.4K | $430K | +11.9% |
| 5+ Bedrooms | $505K | $535K | +5.9% |
Summary: Franklin 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 16%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes increased by 5.9%.
Median Sold Price Compared To Nearby Cities
| Franklin | $261K | $325K | +24.5% |
| Hardyston Township | $340K | $381K | +12.1% |
| Hamburg | $319.9K | $340K | +6.3% |
Housing Supply in Franklin, NJ
How many homes are available in Franklin, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 26 | 32 | +23.1% |
Summary: The Franklin real estate market had 32 homes for sale in April 2024, a 23.1% 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 | 10 | 13 | +30.0% |
| 4 Bedrooms | 10 | 9 | -10.0% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Franklin 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 30%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Franklin in April 2024, up by 50.0% month-over-month. Of the 6 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for Franklin, NJ
We’re sorry, we don't have information for this market at the moment
