I break down what the latest local numbers mean for pricing, pace, and leverage.
If you're trying to decide whether Franklin, NJ feels more like a seller's market or a place to bargain a little harder, the answer is yes - sellers still have the edge. Last month, the market type sat in seller's territory, months of inventory were 1.4, and homes closed at a median sold price of $304,500.
Franklin, NJ still leans seller-friendly. With 1.4 months of inventory last month and a sold-to-list price of 101.3%, serious listings were not hanging around just to collect dust. A typical sale took 24 days in Franklin, NJ, which tells me the right home can move before everyone finishes their second coffee.
For sellers, that mix matters because pricing too boldly can still work, but pricing carelessly is a fast way to test everyone's patience. Buyers should treat the 101.3% sold-to-list figure as a reminder to be sharp on offer strategy, especially when the home is well presented and the price makes sense.
I would focus first on clean pricing, then on timing, then on making sure your next step is not guesswork. If you're buying, move fast on the homes that fit. If you're selling, watch how aggressively similar homes are being priced in Franklin, NJ before you set yours.
