$3,622 Closing Credit*
$305,000
3 Beds
•1 Full Bath
Listing Office: EXP REALTY, LLC
Is Franklin, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Franklin was a Seller's Market.
Key Takeaway
Franklin is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Franklin, NJ
How much do homes in Franklin, NJ cost?
Median Sold Price
$360,000
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$77,000(+27.2%)
Key Takeaway
Homes in Franklin have sold for 27.2% more than they did a year ago.
Summary: The median home sold price in Franklin was $360,000 in November 2024, up 27.2% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $240.4K | $300K | +24.8% |
| 3 Bedrooms | $277.3K | $335K | +20.8% |
| 4 Bedrooms | $400K | $422.5K | +5.6% |
| 5+ Bedrooms | $442.4K | $505K | +14.1% |
Summary: Franklin housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 24.8%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 14.1%.
Median Sold Price Compared To Nearby Cities
| Franklin | $283K | $360K | +27.2% |
| Hamburg | $330K | $370K | +12.1% |
| Hardyston Township | $366.7K | $392.4K | +7.0% |
| Stockholm | $360K | $375K | +4.2% |
Housing Supply in Franklin, NJ
How many homes are available in Franklin, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 25 | +19.0% |
Summary: The Franklin real estate market had 25 homes for sale in November 2024, a 19.0% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Franklin housing inventory by bedroom type for November 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 7.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Franklin in November 2024, down by 60.0% month-over-month. Of the 2 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
