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 October 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

$410,050

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$47,550(+13.1%)

Key Takeaway

Homes in Frankfort Township have sold for 13.1% more than they did a year ago.

Summary: The median home sold price in Frankfort Township was $410,050 in October 2024, up 13.1% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $140.2K$67.5K
-51.9%
2 $194.7K$211.5K
+8.6%
3 $325K$345.9K
+6.4%
4 $525K$560K
+6.7%
5+ $620K$599.5K
-3.3%

Summary: Frankfort Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 51.9%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes decreased by 3.3%.

Median Sold Price Compared To Nearby Cities

Lake Creek
+32.7%
West Frankfort
+15.1%
Frankfort Township
+13.1%

Housing Supply in Frankfort Township, IL

How many homes are available in Frankfort Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
158172+8.9%

Summary: The Frankfort Township real estate market had 172 homes for sale in October 2024, a 8.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 1619
+18.8%
3 6466
+3.1%
4 5662
+10.7%
5+ 2124
+14.3%

Summary: The Frankfort Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
38380.0%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

10 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. 52.6% of homes here sold below asking price last month.

Summary: A total of 38 homes were sold or pending in Frankfort Township in October 2024, the same as the previous month. Of the 38 sold homes, 53% were sold under asking, 21% were sold at asking, and 26% 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

Oct 2023Oct 2024CHANGE
21 Days31 Days+44.9%

Summary: Homes in Frankfort Township had an average of 31 days on market in Oct 2024, up by 44.9% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

3 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 October 2024, 38 homes were sold in Frankfort Township; 63% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 8% 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 20 Days Ago

Newest Listings in Frankfort Township, IL

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