Franklin Lakes, NJ Housing Market
The Franklin Lakes housing market is somewhat competitive. The median sale price of a home in Franklin Lakes was $1.7M last month, up 11.8% since last year. The median sale price per square foot in Franklin Lakes is $410, up 19.5% since last year.
Franklin Lakes Housing Market Trends
In March 2024, Franklin Lakes home prices were up 11.8% compared to last year, selling for a median price of $1.7M.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Franklin Lakes housing market?
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 6 months
- Some homes get multiple offers.
- The average homes sell for about 1% above list price and go pending in around 70 days.
- Hot homescan sell for about 7% above list price and go pending in around 32 days.
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 6 months
- Some homes get multiple offers.
- The average homes sell for about 5% above list price and go pending in around 53 days.
- Hot homescan sell for about 10% above list price and go pending in around 24 days.
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 6 months
- Some homes get multiple offers.
- The average homes sell for about 7% above list price and go pending in around 48 days.
- Hot homescan sell for about 13% above list price and go pending in around 19 days.
Franklin Lakes Migration & Relocation Trends
- Across the nation, 3% of homebuyers searched to move into Franklin Lakes from outside metros.
- Peoria homebuyers searched to move into Franklin Lakes more than any other metro followed by Walla Walla and Lincoln.
- 69% of Franklin Lakes homebuyers searched to stay within the Franklin Lakes metropolitan area.
- Miami was the most popular destination among Franklin Lakes homebuyers followed by Philadelphia and Washington.
Inbound | Net inflow | ||
---|---|---|---|
Metros | Feb '24 - Apr '24 | ||
1 | 5 | ||
2 | 5 | ||
3 | 3 | ||
4 | 1 | ||
5 | 1 | ||
6 | 1 | ||
7 | 0 | ||
8 | 0 | ||
9 | 0 | ||
10 | 0 |
Outbound | Net outflow | ||
---|---|---|---|
Metros | Feb '24 - Apr '24 | ||
1 | 6,427 | ||
2 | 4,068 | ||
3 | 3,393 | ||
4 | 3,037 | ||
5 | 2,791 | ||
6 | 2,083 | ||
7 | 1,825 | ||
8 | 1,664 | ||
9 | 1,615 | ||
10 | 1,436 |
Home offer insights for Franklin Lakes
Recent offers
View houses in Franklin Lakes that sold recently
Recently sold homes
- $1,275,000 Last Sold Price5 beds3 baths—sq ft388 Freemans Ln, Franklin Lakes, NJ 07417DeFino & Company DeFino & CompanyList Price$1,249,000Sale to List2% over listDays on Market69 days388 Freemans Ln, Franklin Lakes, NJ 07417
- $1,350,000 Last Sold Price5 beds5.5 baths—sq ft352 Briarly Dr, Franklin Lakes, NJ 07417Keller Williams Village Square Realty Keller Williams Village Square RealtyList Price$1,325,000Sale to List2% over listDays on Market51 days352 Briarly Dr, Franklin Lakes, NJ 07417
- $1,450,000 Last Sold Price5 beds3.5 baths—sq ft991 Valley Rd, Franklin Lakes, NJ 07417Compass New Jersey, LLC-Ridgewood Realty One Group LegendList Price$1,299,000Sale to List12% over listDays on Market59 days991 Valley Rd, Franklin Lakes, NJ 07417
- $999,999 Last Sold Price4 beds2.5 baths—sq ft1032 Dogwood Trl, Franklin Lakes, NJ 07417Coldwell Banker, Ridgewood Coldwell Banker, RidgewoodList Price$899,000Sale to List11% over listDays on Market55 days1032 Dogwood Trl, Franklin Lakes, NJ 07417
- $1,825,000 Last Sold Price5 beds3.5 baths—sq ft811 Sussex Rd, Franklin Lakes, NJ 07417Coldwell Banker, Wyckoff/Franklin Lakes Keller Williams Park ViewsList Price$1,699,900Sale to List7% over listDays on Market74 days811 Sussex Rd, Franklin Lakes, NJ 07417
- $1,550,000 Last Sold Price5 beds3.5 baths—sq ft929 High Mountain Rd, Franklin Lakes, NJ 07417Prominent Properties Sotheby's International Realty-Ridgewood Christie's International Real Estate Group-RidgewoodList Price$1,325,000Sale to List17% over listDays on Market60 days929 High Mountain Rd, Franklin Lakes, NJ 07417
- $880,000 Last Sold Price—beds—baths—sq ft834 Summit Ave, Franklin Lakes, NJ 07417Weichert Realtors, Ridgewood Christie's International Real Estate Group-Franklin LakesList Price$899,000Sale to List2% under listDays on Market287 days834 Summit Ave, Franklin Lakes, NJ 07417
- $825,000 Last Sold Price3 beds2 baths—sq ft731 Lawlins Rd, Franklin Lakes, NJ 07417Prominent Properties Sotheby's International Realty-Saddle River Outside BrokerList Price$850,000Sale to List3% under listDays on Market175 days731 Lawlins Rd, Franklin Lakes, NJ 07417
See all recently sold homes in Franklin Lakes.
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Schools in Franklin Lakes
- Elementary
- Middle
- High
GreatSchools Rating
9/10 Manito Elementary School Public • K-5 | 276 Students | 11 reviews |
8/10 Colonial Road School Public • PreK-5 | 238 Students | 2 reviews |
7/10 Sicomac Elementary School Public • PreK-5 | 297 Students | N/A |
7/10 George Washington Elementary School Public • K-5 | 346 Students | 1 reviews |
6/10 Heights Elementary School Public • PreK-5 | 359 Students | 3 reviews |
Climate's impact on Franklin Lakes housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that could impact homes in Franklin Lakes.
Flood Factor - Major
Flood Factor
Fire Factor - Moderate
Fire Factor
Wind Factor - Major
Wind Factor
Wind likelihood over time
Heat Factor - Major
Heat Factor
Transportation in Franklin Lakes
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