$5,225 Closing Credit*
$440,000
2 Beds
•2 Full Baths, 1 Partial
Listing Office: KUKER & KESSLER REAL ESTATE
Is Franklin Park, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Franklin Park has remained a Seller's Market.
Key Takeaway
Franklin Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franklin Park, NJ
How much do homes in Franklin Park, NJ cost?
Median Sold Price
$386,000
$301/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,000(+10.0%)
Key Takeaway
Homes in Franklin Park have sold for 10% more than they did a year ago.
Summary: The median home sold price in Franklin Park was $386,000 in October 2024, up 10% from last year, and the median price per square foot was $301.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $167.7K | $202K | +20.4% |
| 2 Bedrooms | $310K | $365K | +17.8% |
| 3 Bedrooms | $485K | $480.5K | -0.9% |
| 4 Bedrooms | $760K | $725.5K | -4.5% |
| 5+ Bedrooms | $1.0M | $1.0M | -1.1% |
Summary: Franklin Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.4%, 2 bedroom homes increased by 17.8%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes decreased by 1.1%.
Median Sold Price Compared To Nearby Cities
| South Brunswick Township | $549.3K | $650K | +18.3% |
| Kendall Park | $600K | $683K | +13.8% |
| North Brunswick Township | $427K | $470K | +10.1% |
| Franklin Park | $351K | $386K | +10.0% |
| Franklin Township | $440.2K | $484.2K | +10.0% |
Housing Supply in Franklin Park, NJ
How many homes are available in Franklin Park, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 32 | +6.7% |
Summary: The Franklin Park real estate market had 32 homes for sale in October 2024, a 6.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 19 | 21 | +10.5% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Franklin Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Park, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Franklin Park in October 2024, down by 22.2% month-over-month. Of the 7 sold homes, 29% were sold under asking, 0% were sold at asking, and 71% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 6 Days | 77 Days | +1191.7% |
Summary: Homes in Franklin Park had an average of 77 days on market in Oct 2024, up by 1191.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Franklin Park has remained consistent over time.
Summary: During October 2024, 7 homes were sold in Franklin Park; 0% of homes were sold within 30 days, 29% 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.