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 November 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

$429,645

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$29,716(+7.4%)

Key Takeaway

Homes in Frankfort Township have sold for 7.4% more than they did a year ago.

Summary: The median home sold price in Frankfort Township was $429,645 in November 2024, up 7.4% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $201.2K$207.9K
+3.3%
2 $287.4K$295K
+2.6%
3 $347.7K$375K
+7.8%
4 $520K$542.5K
+4.3%
5+ $596K$590K
-1.0%

Summary: Frankfort Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.3%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 1%.

Median Sold Price Compared To Nearby Cities

Frankfort
+7.7%
Frankfort Township
+7.4%
Tinley Park
+6.3%
Mokena
-6.2%

Housing Supply in Frankfort Township, IL

How many homes are available in Frankfort Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
224229+2.2%

Summary: The Frankfort Township real estate market had 229 homes for sale in November 2024, a 2.2% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 02
+100.0%
2 3434
0.0%
3 7671
-6.6%
4 8595
+11.8%
5+ 2927
-6.9%

Summary: The Frankfort Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 6.6%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes decreased by 6.9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
6652-21.2%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

14 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. 50% of homes here sold below asking price last month.

Summary: A total of 52 homes were sold or pending in Frankfort Township in November 2024, down by 21.2% month-over-month. Of the 52 sold homes, 50% were sold under asking, 23% were sold at asking, and 27% 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

Nov 2023Nov 2024CHANGE
26 Days19 Days-26.1%

Summary: Homes in Frankfort Township had an average of 19 days on market in Nov 2024, down by 26.1% compared to last year.

Breakdown of Home Sale Times

41 Homes Were Sold
Under 30 Days

9 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 November 2024, 52 homes were sold in Frankfort Township; 79% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 4% 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 22 Days Ago

Newest Listings in Frankfort Township, IL

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