Why Live in Franklin Lakes
Franklin Lakes, located in northern New Jersey, is a tranquil residential area with approximately 10,000 residents, known for its expansive lots and luxurious homes. The community is characterized by winding country roads rather than highways, offering a peaceful environment. Homes here are often grand estates, measuring around 7,000 square feet, featuring amenities like outdoor patios, tennis courts, and swimming pools. Architectural styles vary, with properties showcasing elements such as marble foyers and cathedral ceilings. Property taxes are relatively reasonable, aided by the presence of several Fortune 500 company headquarters. Education is a strong point, with High Mountain Road Elementary School and Ramapo Indian Hills Regional High School receiving high ratings and offering small class sizes. Recreational features include the Franklin Lakes Nature Preserve, with trails and a lake for fishing and boating, and Parsons Pond Park, which offers ballfields and walking paths. The Indian Trail Club provides private country club amenities. Franklin Avenue serves as the central hub, with dining options like Roast’d and Pazza, and shopping at Stop & Shop. Nearby Wyckoff's Abma’s Farm offers fresh produce and specialty items. Accessibility to major thoroughfares such as Route 208 and Interstate 287 allows for travel to Midtown Manhattan in about an hour.
Home Trends in Franklin Lakes, NJ
On average, homes in Franklin Lakes, NJ sell after 51 days on the market compared to the national average of 55 days. The median sale price for homes in Franklin Lakes, NJ over the last 12 months is $1,737,500, up 29% from the median home sale price over the previous 12 months.
Median Sale Price
$1,737,500
Median Single Family Sale Price
$1,775,000
Median Townhouse Sale Price
$950,000
Average Price Per Sq Ft
$518
Number of Homes for Sale
26
Last 12 months Home Sales
148
Median List Price
$1,794,500
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
29%
