Is Frankfort, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Frankfort was a Seller's Market.
Key Takeaway
Frankfort is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Frankfort, NY
How much do homes in Frankfort, NY cost?
Median Sold Price
$149,475
$94/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Frankfort have sold for 20.7% less than they did a year ago.
Summary: The median home sold price in Frankfort was $149,475 in May 2024, down 20.7% from last year, and the median price per square foot was $94.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $135K | $98K | -27.4% |
| 3 Bedrooms | $185K | $147.5K | -20.3% |
| 4 Bedrooms | $300K | $227.5K | -24.2% |
| 5+ Bedrooms | $76.5K | $136.2K | +78.1% |
Summary: Frankfort 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 decreased by 27.4%, 3 bedroom homes decreased by 20.3%, 4 bedroom homes decreased by 24.2%, and 5+ bedroom homes increased by 78.1%.
Housing Supply in Frankfort, NY
How many homes are available in Frankfort, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 23 | +43.8% |
Summary: The Frankfort real estate market had 23 homes for sale in May 2024, a 43.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 4 | 9 | +125.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Frankfort 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 remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 125%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Frankfort, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Frankfort in May 2024, down by 75.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Frankfort, NY
How long does it take to sell a home in Frankfort, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 46 Days | 117 Days | +153.4% |
Summary: Homes in Frankfort had an average of 117 days on market in May 2024, up by 153.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Frankfort are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 1 homes were sold in Frankfort; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
The data relating to real estate on this website comes in part from the Internet Data Exchange program of the Global MLS (GMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.