A clear way to decide how firm your terms should be
You are trying to decide if you can negotiate, or if you need to come in strong to win the house you want. My rule in Franklin, NJ, plan for competition first and then adjust only when the specific home gives you room. One number to respect right now is recent accepted offers landing at about 102.9% of asking last month. That is the kind of environment where a vague offer and a slow timeline get beat, even when the price is close.
If you only remember one closed data point right now, make it this last month, offers in Franklin, NJ typically landed at about 102.9% of asking, and a typical sale took 35 days. Supply was also reported at 1.2 months. Those three facts together tell me you cannot treat this like a casual negotiation window. That matters because a market can feel quiet on a random Tuesday and still punish hesitation when the right property hits the market. Some metrics were not reported for this period. Even so, the combination of 1.2 months of supply and buyers paying over asking is enough for me to treat most well-priced listings in Franklin, NJ as likely to attract multiple offers. Start by tightening your offer timeline so you can move fast when a home fits. Use the 102.9% of asking figure as your reality check, and decide in advance what you will do if the home draws competition, including the cleanest terms you can commit to. When a listing has been sitting longer, do not assume it is a bargain confirm the home's condition and pricing logic before you try to negotiate, because the typical sale pace was still 35 days last month.
