$5,938 Closing Credit*
$500,000
3,316 SqFt
4 Beds
•2 Full Baths, 1 Partial
Christian L Lang, Listing Office: Keller Williams Hometown
Is Franklin Township, 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 Township was a Seller's Market.
Key Takeaway
Franklin Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Franklin Township, NJ
How much do homes in Franklin Township, NJ cost?
Median Sold Price
$349,966
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$49,966(+16.7%)
Key Takeaway
Homes in Franklin Township have sold for 16.7% more than they did a year ago.
Summary: The median home sold price in Franklin Township was $349,966 in November 2024, up 16.7% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $194.9K | $200K | +2.6% |
| 2 Bedrooms | $236.9K | $246K | +3.8% |
| 3 Bedrooms | $285K | $330K | +15.8% |
| 4 Bedrooms | $435K | $424.9K | -2.3% |
| 5+ Bedrooms | $429.9K | $492.5K | +14.5% |
Summary: Franklin Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.6%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 15.8%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes increased by 14.5%.
Median Sold Price Compared To Nearby Cities
| Clayton | $260K | $321K | +23.5% |
| Franklin Township | $300K | $349.9K | +16.7% |
| Newfield | $282.5K | $300K | +6.2% |
| Franklinville | $319K | $337.2K | +5.7% |
Housing Supply in Franklin Township, NJ
How many homes are available in Franklin Township, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 94 | 86 | -8.5% |
Summary: The Franklin Township real estate market had 86 homes for sale in November 2024, a 8.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 55 | 48 | -12.7% |
| 4 Bedrooms | 25 | 21 | -16.0% |
| 5+ Bedrooms | 3 | 7 | +133.3% |
Summary: The Franklin Township 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 decreased by 11.1%, 3 bedroom homes decreased by 12.7%, 4 bedroom homes decreased by 16%, and 5+ bedroom homes increased by 133.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 24 | 12 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Township, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Franklin Township in November 2024, down by 50.0% month-over-month. Of the 12 sold homes, 17% were sold under asking, 8% were sold at asking, and 75% were sold over asking.
Days on Market for Franklin Township, NJ
How long does it take to sell a home in Franklin Township, NJ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 50 Days | 29 Days | -41.3% |
Summary: Homes in Franklin Township had an average of 29 days on market in Nov 2024, down by 41.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Franklin Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 12 homes were sold in Franklin Township; 42% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved.