Is Frankfort Square, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Frankfort Square is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Frankfort Square has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Frankfort Square, IL

How much do homes in Frankfort Square, IL cost?

Median Sold Price

$311,000

$190/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$21,000(+7.2%)

Key Takeaway

Homes in Frankfort Square have sold for 7.2% more than they did a year ago.

Summary: The median home sold price in Frankfort Square was $311,000 in April 2024, up 7.2% from last year, and the median price per square foot was $190.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$197.5K
N/A
2 $190K$206K
+8.4%
3 $290K$325K
+12.1%
4 $329.9K$341K
+3.3%
5+ $315K$470K
+49.2%

Summary: Frankfort Square housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 49.2%.

Median Sold Price Compared To Nearby Neighborhoods

Frankfort Square
+7.2%
Frankfort Square Court
-0.4%

Housing Supply in Frankfort Square, IL

How many homes are available in Frankfort Square, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2028+40.0%

Summary: The Frankfort Square real estate market had 28 homes for sale in April 2024, a 40.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 67
+16.7%
3 712
+71.4%
4 57
+40.0%
5+ 22
0.0%

Summary: The Frankfort Square housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 71.4%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
49+125.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Frankfort Square, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in Frankfort Square in April 2024, up by 125.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 11% were sold at asking, and 56% were sold over asking.

Days on Market for Frankfort Square, IL

How long does it take to sell a home in Frankfort Square, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
22 Days6 Days-72.8%

Summary: Homes in Frankfort Square had an average of 6 days on market in Apr 2024, down by 72.8% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Frankfort Square are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 9 homes were sold in Frankfort Square; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

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