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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Franklin Grove Township is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Franklin Grove Township was a Neutral Market.

Key Takeaway

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

Housing Prices in Franklin Grove Township, IL

How much do homes in Franklin Grove Township, IL cost?

Median Sold Price

$179,000

$87/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

+$54,000(+43.2%)

Key Takeaway

Homes in Franklin Grove Township have sold for 43.2% more than they did a month ago.

Summary: The median home sold price in Franklin Grove Township was $179,000 in November 2024, up 43.2% from last month, and the median price per square foot was $87.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 $125K-
N/A
3 -$179K
N/A
4 --
N/A
5+ --
N/A

Summary: Franklin Grove Township housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Franklin Grove Township
+43.2%
Franklin Grove
+43.2%

Housing Supply in Franklin Grove Township, IL

How many homes are available in Franklin Grove Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
67+16.7%

Summary: The Franklin Grove Township real estate market had 7 homes for sale in November 2024, a 16.7% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 11
0.0%
3 45
+25.0%
4 11
0.0%
5+ 00
0.0%

Summary: The Franklin Grove Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Franklin Grove Township, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Franklin Grove Township in November 2024, up by 200.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Franklin Grove Township, IL

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

Average Sale Time

Oct 2024Nov 2024CHANGE
28 Days8 Days-71.4%

Summary: Homes in Franklin Grove Township had an average of 8 days on market in Nov 2024, down by 71.4% compared to last month.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 3 homes were sold in Franklin Grove Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 2 Days Ago

Newest Listings in Franklin Grove Township, IL

Nearby Markets to Franklin Grove Township, IL

What housing markets are near Franklin Grove Township, IL?