Is Frankfort Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Frankfort Township is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Frankfort Township has remained a Seller's Market.

Key Takeaway

Frankfort Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Frankfort Township, IL

How much do homes in Frankfort Township, IL cost?

Median Sold Price

$429,100

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$39,600(+10.2%)

Key Takeaway

Homes in Frankfort Township have sold for 10.2% more than they did a year ago.

Summary: The median home sold price in Frankfort Township was $429,100 in September 2024, up 10.2% from last year, and the median price per square foot was $183.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $117K$207.9K
+77.7%
2 $282.4K$293.2K
+3.8%
3 $340K$368.2K
+8.3%
4 $520K$525K
+1.0%
5+ $577.4K$590K
+2.2%

Summary: Frankfort Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 77.7%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 2.2%.

Median Sold Price Compared To Nearby Cities

Frankfort Township
+10.2%
Tinley Park
+7.9%
Green Garden Township
+6.6%
Frankfort
+3.7%
Mokena
+1.1%

Housing Supply in Frankfort Township, IL

How many homes are available in Frankfort Township, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
226265+17.3%

Summary: The Frankfort Township real estate market had 265 homes for sale in September 2024, a 17.3% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 31
-66.7%
2 3737
0.0%
3 8088
+10.0%
4 79104
+31.6%
5+ 2735
+29.6%

Summary: The Frankfort Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 31.6%, and 5+ bedroom homes increased by 29.6%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
4662+34.8%

Asking Price vs. Sold Price

39 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Frankfort Township, you may be able to get a good deal. 62.9% of homes here sold below asking price last month.

Summary: A total of 62 homes were sold or pending in Frankfort Township in September 2024, up by 34.8% month-over-month. Of the 62 sold homes, 63% were sold under asking, 16% were sold at asking, and 21% were sold over asking.

Days on Market for Frankfort Township, IL

How long does it take to sell a home in Frankfort Township, IL?

Average Sale Time

Sep 2023Sep 2024CHANGE
18 Days23 Days+26.5%

Summary: Homes in Frankfort Township had an average of 23 days on market in Sep 2024, up by 26.5% compared to last year.

Breakdown of Home Sale Times

49 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Frankfort Township are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 62 homes were sold in Frankfort Township; 79% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

Newest Listings in Frankfort Township, IL

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