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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Frankfort Township is a seller's market

Buyer's
Market

Difference Since May 2021

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

Key Takeaway

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

How much do homes in Frankfort Township, IL cost?

Median Sold Price

$373,000

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$30,666(+9.0%)

Key Takeaway

Homes in Frankfort Township have sold for 9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $126K$99K
-21.4%
2 $229.7K$241K
+4.9%
3 $275.1K$302.5K
+9.9%
4 $413.5K$474.1K
+14.7%
5+ $447.4K$550K
+22.9%

Median Sold Price Compared To Nearby Cities

Green Garden Township
+19.7%
Frankfort
+17.7%
Frankfort Township
+9.0%
Mokena
+6.5%
Tinley Park
+6.5%

How many homes are available in Frankfort Township, IL?

Number of Homes For Sale

Apr 2022May 2022%
259300+15.8%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 01
+100.0%
2 4040
0.0%
3 91103
+13.2%
4 84107
+27.4%
5+ 4449
+11.4%

Number of Homes Sold

Apr 2022May 2022%
7072+2.9%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

46 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Frankfort Township, you could pay more than the asking price. 63.9% of homes here sold above asking price last month.

Average Sale Time

May 2021May 2022%
17 Days15 Days-12.9%

Breakdown of Home Sale Times

61 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Frankfort Township, IL

There are 300 homes are for sale in Frankfort Township, IL real estate market. The number of listings in Frankfort Township, IL increased by 15.8% between April 2022 and May 2022. While the average time on the market in May 2022 was 15 days, the median list price was $373,000. Real estate listing prices changed between April 2022 and May 2022: 1 bedroom properties became 21.4% more cheaper, 2 bedrooms properties became 4.9% more expensive, prices of 3 bedrooms properties increased by 9.9%, the cost of 4 bedrooms properties went up by 14.7%, 5 bedrooms properties prices increased by 22.9%. This housing market inventory have changed: 1 bedroom homes inventory increased by 100%, number of 2 bedrooms homes remained the same, volume of 3 bedrooms homes went up by 13.2%, 4 bedrooms homes inventory increased by 27.4%, 5 bedrooms homes became 11.4% more available. Over 46 listings were sold over their listed price in May 2022 in Frankfort Township, IL. In the same period over 16 listings were sold below the listed price and 10 listings were sold for the listed price.

Related Housing Market Reports