Franklin Lakes, NJ Home Values & Market Trends
Real estate market trends reflect that there have been 147 transactions over the past year in Franklin Lakes. The median value for residential home transactions that occurred over the previous year is $1,153,037.88. The number of current listings in Franklin Lakes is 8, and the percentage of properties for sale in the city is 8.00%. Franklin Lakes, NJ currently has 32 properties in foreclosure, 0 bank owned properties, 2 properties headed for auction, and 8 properties for sale.
Franklin Lakes, NJ Real Estate Market Overview
Zip | Median Est. Value |
---|---|
07417 | $ 1,120,000 $ 367/sqft |
Housing Market Summary for Franklin Lakes, NJ
Mar 2023 | February 2024 | Change | |
---|---|---|---|
Median Listing Price | $1.3M | $1.2M | -5.82% |
Median Sold Price | $1.1M | $1.2M | 14.93% |
Homes For Sale | 10 | 7 | -30.00% |
Homes Sold | 100 | 65 | -35.00% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Franklin Lakes, NJ
Browse Homes in Franklin Lakes, NJ
Franklin Lakes home values range from $232,200 to $1,885,000. The median estimated value of a home in Franklin Lakes is $1,153,037.88. The median list price of a home is 1,287,000, and the total count of properties in the city is 3,718.
- Pre-ForeclosurePre-foreclosure homes account for 0.81% of all residential properties in Franklin Lakes, NJ with 07417 containing 30 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There is 1 zips within Franklin Lakes, NJ; of that zips, the estimated home value for pre-foreclosure homes ranges from $1,848,000 in 07417 to the lowest home value of $390,200 in 07417.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Franklin Lakes, NJ ranges from the highest value of $0 in N/A to the lowest value of $0 in N/A. Bank owned homes and properties account for 0% of properties in Franklin Lakes, NJ. There is 1 zips within Franklin Lakes, NJ; N/A containing 0 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions07417 has 2 auction properties, the highest number of properties going to auction in a single zip in the state of Franklin Lakes, NJ. Auction homes and other auction properties account for 0.05% of all properties in Franklin Lakes, NJ. There is 1 zips within Franklin Lakes, NJ; of that zips, the median estimated home value for homes going to auction ranges from $1,799,000 in 07417 to the lowest value of $1,280,000 in 07417.
Compare Nearby Cities
More Real Estate Resources for Franklin Lakes, NJ
Guide for Franklin Lakes, NJ
The Newark real estate market from 2023 to 2024 exhibited a strong upward growth pattern, with slight fluctuations in property values and sale price per square foot.
The Jersey City real estate market continues to show robust growth with prices rising to an average of $595,000 per property and $394 per square foot in February 2024.
Learn how to secure a house mortgage even with a low credit score.
Explore the legal pitfalls to avoid when dealing with pre-foreclosure sellers. Learn how to navigate the complex process safely and protect yourself from costly mistakes and legal complications.