Franklin Township Housing Market Report December 2024•Hunterdon County, New Jersey

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Housing Prices in Franklin Township, NJ

How much do homes in Franklin Township, NJ cost?

Housing Market Conditions

Is Franklin Township, NJ a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Franklin Township is a Seller's Market

Difference Since December 2023

Since last year, Franklin Township has remained a Seller's Market.

Insight

Franklin Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$397,500$268/SqFt
+$28,250
+7.7%

Based on all homes sold in the last 12 months

Insight

Homes in Franklin Township have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in Franklin Township was $397,500 in December 2024, up 7.7% from last year, and the median price per square foot was $268.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Annandale
+32.4%
Franklin Township
+7.7%
Clinton Township
+4.7%
Pittstown
+4.5%
Clinton
-23.8%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1--
N/A
2$268K$302.5K
+12.9%
3$304K$369K
+21.4%
4$602.5K$430K
-28.6%
5$540.4K$771.5K
+42.8%

Summary: Franklin Township housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +12.9%. The home price for 3 bedroom homes increased by +21.4%. The home price for 4 bedroom homes decreased by -28.6%. The home price for 5 bedroom homes increased by +42.8%.

Housing supply in Franklin Township, NJ

How many homes are available in Franklin Township, NJ?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
30Last MonthDec 2024
322 months agoNov 2024
-6.3 %
Change MoMNov – Dec

Summary: The Franklin Township real estate market had 30 homes for sale in Dec 2024, a 6.3 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
6Last MonthDec 2024
42 months agoNov 2024
+50.0 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
111
0.0%
244
0.0%
31414
0.0%
4119
-18.2%
522
0.0%

Summary: Franklin Township housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes decreased by -18.2%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Franklin Township, NJ cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price4 Homes

At Asking Price0 Home

Under Asking Price2 Homes

Insight

If you're buying a home in Franklin Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 6 homes were sold or pending in Franklin Township in December 2024, up by 50.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and and 67% were sold over asking.

Days on Market for Franklin Township, NJ

How long does it take to sell a home in Franklin Township, NJ?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days0 Home

Over 90 Days0 Home

Insight

Many homes in Franklin Township are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 6 homes were sold in Franklin Township; 17% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
2 DaysThis YearDec 2024
2 Days1 year agoDec 2023
0.0 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Franklin Township had an average listing age of 2 days in Dec 2024, down by .0% compared to the previous year.

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Newest Listings in Franklin Township, NJ

What homes are available in Franklin Township, NJ?

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Based on information from Garden State MLS, and BrightMLS for the period 01/01/2023 - 01/01/2025

Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.

Disclaimer: The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as an IDX Listing. Information deemed reliable but not guaranteed.

Notice: The dissemination of listings displayed herein does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.

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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:20:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2025 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 11:20:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.