Is Franklin 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, Franklin Township has remained a Seller's Market.
Housing Prices in Franklin Township, IL
How much do homes in Franklin Township, IL cost?
Median Sold Price
$185,950
$120/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Franklin Township was $185,950 in May 2024, down 23% from last year, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $133K | $140K | +5.3% |
3 Bedrooms | $255K | $178.5K | -30.0% |
4 Bedrooms | $246K | $395K | +60.6% |
5+ Bedrooms | $271.5K | $349K | +28.5% |
Summary: Franklin Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.3%, 3 bedroom homes decreased by 30%, 4 bedroom homes increased by 60.6%, and 5+ bedroom homes increased by 28.5%.
Median Sold Price Compared To Nearby Cities
Kingston Township | $277.9K | $310K | +11.6% |
Flora Township | $135K | $115K | -14.8% |
Franklin Township | $241.5K | $185.9K | -23.0% |
Housing Supply in Franklin Township, IL
How many homes are available in Franklin Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 5 | +25.0% |
Summary: The Franklin Township real estate market had 5 homes for sale in May 2024, a 25.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 2 | 2 | 0.0% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Franklin Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Franklin Township in May 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
39 Days | 12 Days | -69.2% |
Summary: Homes in Franklin Township had an average of 12 days on market in May 2024, down by 69.2% compared to last year.
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
Summary: During May 2024, 3 homes were sold in Franklin 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.