$3,088 Closing Credit*
$260,000
1 Bed
•1 Full Bath
Iona J Golden, Listing Office: Weichert Realtors-Turnersville
Is Franklin Township, 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 Township has remained a Seller's Market.
Key Takeaway
Franklin Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Franklin Township, NJ
How much do homes in Franklin Township, NJ cost?
Median Sold Price
$349,900
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$54,900(+18.6%)
Key Takeaway
Homes in Franklin Township have sold for 18.6% more than they did a year ago.
Summary: The median home sold price in Franklin Township was $349,900 in October 2024, up 18.6% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $194.9K | $200K | +2.6% |
| 2 Bedrooms | $235K | $250K | +6.4% |
| 3 Bedrooms | $277.3K | $330K | +19.0% |
| 4 Bedrooms | $437.8K | $424.9K | -3.0% |
| 5+ Bedrooms | $535K | $492.5K | -7.9% |
Summary: Franklin Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.6%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 19%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes decreased by 7.9%.
Median Sold Price Compared To Nearby Cities
| Franklin Township | $295K | $349.9K | +18.6% |
| Clayton | $275K | $305K | +10.9% |
| Franklinville | $310K | $340K | +9.7% |
| Newfield | $277.5K | $300K | +8.1% |
Housing Supply in Franklin Township, NJ
How many homes are available in Franklin Township, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 90 | 95 | +5.6% |
Summary: The Franklin Township real estate market had 95 homes for sale in October 2024, a 5.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 8 | 9 | +12.5% |
| 3 Bedrooms | 51 | 55 | +7.8% |
| 4 Bedrooms | 24 | 25 | +4.2% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Franklin Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 23 | +35.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Franklin Township, you could pay more than the asking price. 56.5% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in Franklin Township in October 2024, up by 35.3% month-over-month. Of the 23 sold homes, 26% were sold under asking, 17% were sold at asking, and 57% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 35 Days | +53.4% |
Summary: Homes in Franklin Township had an average of 35 days on market in Oct 2024, up by 53.4% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 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 October 2024, 23 homes were sold in Franklin Township; 43% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website. 
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.