Is Franklin Lakes, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Franklin Lakes has remained a Buyer's Market.
Key Takeaway
Franklin Lakes is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Franklin Lakes, NJ
How much do homes in Franklin Lakes, NJ cost?
Median Sold Price
$939,999
-
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Franklin Lakes have sold for 12.1% less than they did a month ago.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | - | $852.5K | N/A |
| 4 Bedrooms | $1.0M | $999.9K | -6.5% |
| 5+ Bedrooms | - | $1.8M | N/A |
Summary: Franklin Lakes housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 6.5%, and 5+ bedroom homes did not change.
Housing Supply in Franklin Lakes, NJ
How many homes are available in Franklin Lakes, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 29 | 50 | +72.4% |
Summary: The Franklin Lakes real estate market had 50 homes for sale in April 2024, a 72.4% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 7 | +133.3% |
| 4 Bedrooms | 8 | 15 | +87.5% |
| 5+ Bedrooms | 18 | 28 | +55.6% |
Summary: The Franklin Lakes 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 remained the same, 3 bedroom homes increased by 133.3%, 4 bedroom homes increased by 87.5%, and 5+ bedroom homes increased by 55.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Lakes, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Franklin Lakes in April 2024, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Franklin Lakes, 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 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.