Is Franklin Park, NJ 08823 a buyer’s or seller’s market?

The Franklin Park housing market right now

In the three months ending August 31, 2026, 58% of homes in Franklin Park, NJ 08823 sold above their list price, the typical home went under contract in 22 days and there were 1.9 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 39 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 77%, homes sold about as fast and the median sale price rose 5% to $424,816. Overall, Franklin Park is less competitive than a year ago, which gives buyers more room.

Within Somerset County, homes here sell more slowly than in 59% of the county’s ZIP codes, and sell less often over asking than in 64%. On our competition score, Franklin Park ranks #110 of 444 NJ ZIP codes with enough sales (score 88 out of 100).

Nearby, buyers who want less competition could look at Warren 07059 (39% sold over asking) or Watchung 07069 (46% sold over asking), while Bedminster 07921 (80% sold over asking) and Raritan 08869 (79% sold over asking) are even more competitive.