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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Franklin Township is a seller's market

Buyer's
Market

Difference Since December 2023

At the same time last year, Franklin Township was a Neutral Market.

Key Takeaway

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

Housing Prices in Franklin Township, IL

How much do homes in Franklin Township, IL cost?

Median Sold Price

$239,900

$118/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$57,900(+31.8%)

Key Takeaway

Homes in Franklin Township have sold for 31.8% more than they did a year ago.

Summary: The median home sold price in Franklin Township was $239,900 in December 2024, up 31.8% from last year, and the median price per square foot was $118.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 -$360K
N/A
2 $123.2K$145K
+17.7%
3 $145K$209.9K
+44.8%
4 $237K$309.7K
+30.7%
5+ $334.5K$330K
-1.3%

Summary: Franklin Township housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17.7%, 3 bedroom homes increased by 44.8%, 4 bedroom homes increased by 30.7%, and 5+ bedroom homes decreased by 1.3%.

Median Sold Price Compared To Nearby Cities

Franklin Township
+31.8%
Kingston Township
-3.8%

Housing Supply in Franklin Township, IL

How many homes are available in Franklin Township, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
87-12.5%

Summary: The Franklin Township real estate market had 7 homes for sale in December 2024, a 12.5% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 53
-40.0%
4 33
0.0%
5+ 00
0.0%

Summary: The Franklin Township housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
330.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Franklin Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in Franklin Township in December 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.

Days on Market for Franklin Township, IL

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

Average Sale Time

Dec 2023Dec 2024CHANGE
4 Days32 Days+716.7%

Summary: Homes in Franklin Township had an average of 32 days on market in Dec 2024, up by 716.7% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Franklin Township has remained consistent over time.

Summary: During December 2024, 3 homes were sold in Franklin Township; 33% of homes were sold within 30 days, 67% 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 8 Days Ago

Newest Listings in Franklin Township, IL

Nearby Markets to Franklin Township, IL

What housing markets are near Franklin Township, IL?