Is Franklin Park, 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 Park was a Seller's Market.
Key Takeaway
Franklin Park is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Franklin Park, NJ
How much do homes in Franklin Park, NJ cost?
Median Sold Price
$375,000
$273/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Franklin Park have sold for 17.2% more than they did a year ago.
Summary: The median home sold price in Franklin Park was $375,000 in April 2024, up 17.2% from last year, and the median price per square foot was $273.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165.5K | $202K | +22.1% |
| 2 Bedrooms | $300K | $350K | +16.7% |
| 3 Bedrooms | $451K | $495K | +9.8% |
| 4 Bedrooms | $703K | $710K | +1.0% |
| 5+ Bedrooms | $888.7K | $980K | +10.3% |
Summary: Franklin Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.1%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 10.3%.
Median Sold Price Compared To Nearby Cities
| Franklin Park | $319.9K | $375K | +17.2% |
| North Brunswick Township | $408.3K | $453K | +10.9% |
| Franklin Township | $423.6K | $468.3K | +10.5% |
| South Brunswick Township | $530K | $579.1K | +9.3% |
| Kendall Park | $575K | $615K | +7.0% |
Housing Supply in Franklin Park, NJ
How many homes are available in Franklin Park, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 39 | +14.7% |
Summary: The Franklin Park real estate market had 39 homes for sale in April 2024, a 14.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 12 | 17 | +41.7% |
| 3 Bedrooms | 15 | 17 | +13.3% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Franklin Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 41.7%, 3 bedroom homes increased by 13.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Park, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Franklin Park in April 2024, down by 25.0% month-over-month. Of the 6 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Franklin Park, NJ
How long does it take to sell a home in Franklin Park, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 5 Days | 12 Days | +140.0% |
Summary: Homes in Franklin Park had an average of 12 days on market in Apr 2024, up by 140% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Franklin Park are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in Franklin Park; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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.
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.