Is Frankfort Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Frankfort Township has remained a Seller's Market.
Housing Prices in Frankfort Township, IL
How much do homes in Frankfort Township, IL cost?
Median Sold Price
$411,513
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Frankfort Township was $411,513 in May 2024, up 2.9% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $142.5K | $130K | -8.8% |
2 Bedrooms | $263K | $289.9K | +10.2% |
3 Bedrooms | $335.6K | $352K | +4.9% |
4 Bedrooms | $537K | $525K | -2.2% |
5+ Bedrooms | $540K | $596K | +10.4% |
Summary: Frankfort Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.8%, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 4.9%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 10.4%.
Median Sold Price Compared To Nearby Cities
Tinley Park | $264.7K | $295K | +11.4% |
Green Garden Township | $572.5K | $607.5K | +6.1% |
Frankfort Township | $399.9K | $411.5K | +2.9% |
Mokena | $371K | $380.6K | +2.6% |
Frankfort | $512.2K | $461.2K | -10.0% |
Housing Supply in Frankfort Township, IL
How many homes are available in Frankfort Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
185 | 219 | +18.4% |
Summary: The Frankfort Township real estate market had 219 homes for sale in May 2024, a 18.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 40 | 36 | -10.0% |
3 Bedrooms | 56 | 76 | +35.7% |
4 Bedrooms | 53 | 73 | +37.7% |
5+ Bedrooms | 35 | 33 | -5.7% |
Summary: The Frankfort Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 35.7%, 4 bedroom homes increased by 37.7%, and 5+ bedroom homes decreased by 5.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
64 | 45 | -29.7% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 45 homes were sold or pending in Frankfort Township in May 2024, down by 29.7% month-over-month. Of the 45 sold homes, 36% were sold under asking, 33% were sold at asking, and 31% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
30 Days | 23 Days | -21.4% |
Summary: Homes in Frankfort Township had an average of 23 days on market in May 2024, down by 21.4% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 45 homes were sold in Frankfort Township; 80% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.