Is Frankfort Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 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
$407,625
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Frankfort Township was $407,625 in February 2024, up 2.8% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110K | $197.5K | +79.5% |
2 Bedrooms | $255K | $294K | +15.3% |
3 Bedrooms | $320.6K | $350K | +9.1% |
4 Bedrooms | $540K | $522.2K | -3.3% |
5+ Bedrooms | $545K | $597K | +9.5% |
Summary: Frankfort Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 79.5%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 9.5%.
Median Sold Price Compared To Nearby Cities
Mokena | $335K | $405K | +20.9% |
Tinley Park | $263.3K | $287.2K | +9.1% |
Green Garden Township | $535K | $580K | +8.4% |
Frankfort Township | $396.6K | $407.6K | +2.8% |
Frankfort | $529.9K | $438.6K | -17.2% |
Housing Supply in Frankfort Township, IL
How many homes are available in Frankfort Township, IL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
156 | 173 | +10.9% |
Summary: The Frankfort Township real estate market had 173 homes for sale in February 2024, a 10.9% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 36 | 39 | +8.3% |
3 Bedrooms | 49 | 44 | -10.2% |
4 Bedrooms | 45 | 55 | +22.2% |
5+ Bedrooms | 25 | 33 | +32.0% |
Summary: The Frankfort Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 8.3%, 3 bedroom homes decreased by 10.2%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 32%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
47 | 37 | -21.3% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in Frankfort Township in February 2024, down by 21.3% month-over-month. Of the 37 sold homes, 68% were sold under asking, 22% were sold at asking, and 11% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
36 Days | 40 Days | +10.9% |
Summary: Homes in Frankfort Township had an average of 40 days on market in Feb 2024, up by 10.9% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During February 2024, 37 homes were sold in Frankfort Township; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.