Housing Prices in Franklin Lakes, NJ
How much do homes in Franklin Lakes, NJ cost?
Median List Price
$1,642,000
$366/sqft
Based on all homes listed in the last 12 months.
Difference Since May 2023
Key Takeaway
The list price of homes in Franklin Lakes has increased by 36.9% since last year.
Summary: The median home list price in Franklin Lakes was $1,642,000 in May 2024, up 36.9% from the previous year, and the median price per square foot was $366.
Median List Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | - | N/A |
| 2 Bedrooms | $629K | $499K | -20.7% |
| 3 Bedrooms | $713.9K | $899K | +25.9% |
| 4 Bedrooms | $1.0M | $1.1M | 0.1% |
| 5+ Bedrooms | $1.7M | $2.8M | +68.2% |
Summary: Franklin Lakes 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 decreased by 20.7%, 3 bedroom homes increased by 25.9%, 4 bedroom homes increased by 0.1%, and 5+ bedroom homes increased by 68.2%.
Median List Price Compared To Nearby Cities
| Franklin Lakes | $1.1M | $1.6M | +36.9% |
| Mahwah Township | $543.2K | $650K | +19.7% |
| Wyckoff | $899.9K | $969.4K | +7.7% |
| Wyckoff Township | $899.9K | $949.9K | +5.6% |
| Oakland | $599.9K | $599.9K | 0.0% |
Housing Supply in Franklin Lakes, NJ
How many homes are available in Franklin Lakes, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 42 | 56 | +33.3% |
Summary: The Franklin Lakes real estate market had 56 homes for sale in May 2024, a 33.3% increase 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 10 | 15 | +50.0% |
| 5+ Bedrooms | 27 | 35 | +29.6% |
Summary: The Franklin Lakes 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 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 29.6%.
Days on Market for Franklin Lakes, NJ
How long does it take to sell a home in Franklin Lakes, NJ?
Average Listing Age
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 115 Days | 73 Days | -35.9% |
Summary: Homes in Franklin Lakes had an average listing age of 73 days in May 2024, down by 35.9% compared to the previous year.
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.