Is Franklin, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Franklin was a Neutral Market.
Housing Prices in Franklin, NJ
How much do homes in Franklin, NJ cost?
Median Sold Price
$325,000
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Franklin was $325,000 in May 2024, up 19.9% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $236K | $278.5K | +18.0% |
3 Bedrooms | $277.7K | $322.5K | +16.1% |
4 Bedrooms | $388.8K | $439.9K | +13.2% |
5+ Bedrooms | $552.5K | $535K | -3.2% |
Summary: Franklin housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes decreased by 3.2%.
Median Sold Price Compared To Nearby Cities
Franklin | $271K | $325K | +19.9% |
Hardyston Township | $340K | $395K | +16.2% |
Ogdensburg | $347K | $372.5K | +7.3% |
Hamburg | $325K | $340K | +4.6% |
Housing Supply in Franklin, NJ
How many homes are available in Franklin, NJ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
31 | 29 | -6.5% |
Summary: The Franklin real estate market had 29 homes for sale in May 2024, a 6.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 5 | +25.0% |
3 Bedrooms | 13 | 9 | -30.8% |
4 Bedrooms | 8 | 9 | +12.5% |
5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Franklin housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 30.8%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 4 | -42.9% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Franklin in May 2024, down by 42.9% 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, NJ
We’re sorry, we don't have information for this market at the moment