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
$403,900
$176/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 $403,900 in May 2024, up 37.1% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $65.5K | $128.2K | +95.8% |
2 Bedrooms | $119K | $208.5K | +75.2% |
3 Bedrooms | $260K | $335.7K | +29.1% |
4 Bedrooms | $499.9K | $547.5K | +9.5% |
5+ Bedrooms | $623.5K | $597K | -4.3% |
Summary: Frankfort Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 95.8%, 2 bedroom homes increased by 75.2%, 3 bedroom homes increased by 29.1%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes decreased by 4.3%.
Median Sold Price Compared To Nearby Cities
Frankfort Township | $294.5K | $403.9K | +37.1% |
West Frankfort | $71.2K | $84.5K | +18.6% |
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 |
---|---|---|
125 | 160 | +28.0% |
Summary: The Frankfort Township real estate market had 160 homes for sale in May 2024, a 28.0% 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 | 25 | 24 | -4.0% |
3 Bedrooms | 44 | 65 | +47.7% |
4 Bedrooms | 37 | 52 | +40.5% |
5+ Bedrooms | 18 | 18 | 0.0% |
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 4%, 3 bedroom homes increased by 47.7%, 4 bedroom homes increased by 40.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
35 | 28 | -20.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Frankfort Township in May 2024, down by 20.0% month-over-month. Of the 28 sold homes, 43% were sold under asking, 32% were sold at asking, and 25% 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 |
---|---|---|
39 Days | 29 Days | -25.9% |
Summary: Homes in Frankfort Township had an average of 29 days on market in May 2024, down by 25.9% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 28 homes were sold in Frankfort Township; 75% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.