Franklin Lakes, NJ 07417 Real Estate Market Report

ZIP Code: 07417
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Franklin Lakes real estate market is currently characterized by a median sold price of $1,599,000, reflecting a robust demand despite elevated inventory levels. The neighborhood has experienced an upward price trend, suggesting a strengthening market. The median listing price stands at $1,999,900, indicating a notable gap between asking and selling prices, which may create pricing friction for sellers. Overall, the market appears to be in a neutral state, with 301 days as the median days on market, indicating slower sales velocity but not necessarily weak liquidity.

The current market conditions show that while the median sold price has remained stable, the median days on market suggests that buyers are taking longer to make purchasing decisions. Elevated inventory levels relative to sales activity may indicate a need for sellers to adjust expectations to align with buyer sentiment. Additionally, the median market rent of $4,290 further underscores the demand for housing in this desirable area, although the absence of rental year-over-year trends limits a comprehensive understanding of rental dynamics.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

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Key Findings

1. The median sold price of $1,599,000 reflects strong market demand despite elevated inventory levels.

2. With a median listing price of $1,999,900, there is a significant gap between asking prices and sold prices, indicating potential pricing friction.

3. The median days on market of 301 suggests slower sales velocity, which may require sellers to adjust their expectations.

4. The market temperature is currently neutral, indicating balanced conditions between buyers and sellers.

5. The median market rent of $4,290 highlights ongoing demand for rental properties, although rental year-over-year trends are unavailable.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.