Is Franklin, NJ 07416 a buyer’s or seller’s market?

The Franklin housing market right now

In the three months ending August 31, 2026, 44% of homes in Franklin, NJ 07416 sold above their list price, the typical home went under contract in 47 days and there were 3 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 16 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 79%, homes sold more slowly (22 days then) and the median sale price fell 31% to $294,872. Overall, Franklin is less competitive than a year ago, which gives buyers more room.

Within Sussex County, homes here sell more slowly than in 89% of the county’s ZIP codes, and sell less often over asking than in 67%. On our competition score, Franklin ranks #287 of 444 NJ ZIP codes with enough sales (score 70 out of 100).

Nearby, buyers who want less competition could look at Augusta 07822 (0% sold over asking) or Vernon 07462 (30% sold over asking), while Andover 07821 (71% sold over asking) and Stanhope 07874 (69% sold over asking) are even more competitive.