Franklin Lakes, NJ 07417 Real Estate Market Report

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.

Market Metrics

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.

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.

Property Taxes

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.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The primary indicator, median sold price: 1,413,500, indicates the representative recent sale level in Franklin Lakes and suggests realized transaction values remain high despite longer time to close; representative recent sale may indicate pricing resilience.
2. The gap between median listing price: 1,577,000 and the median sold price suggests pricing friction where seller expectations exceed recent transaction levels, which may require negotiation or price adjustments to close deals.
3. The market shows a very long median days on market: 346, which points to slower sales velocity and implies transactions are taking substantially longer to complete even as sold prices stay elevated.
4. Broader market signals show prices and rents are trending up while market temperature is neutral and interest rate pressure is elevated, which may constrain buyer pool (higher borrowing costs) even as rental demand supports higher market rents.

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.