Is Frankfort Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$388,333
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Frankfort Township was $388,333 in March 2024, up 127.1% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $65.5K | $59K | -9.9% |
2 Bedrooms | $69.9K | $215.5K | +208.1% |
3 Bedrooms | $143.5K | $330K | +130.0% |
4 Bedrooms | $415K | $545K | +31.3% |
5+ Bedrooms | $720K | $590K | -18.1% |
Summary: Frankfort Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.9%, 2 bedroom homes increased by 208.1%, 3 bedroom homes increased by 130%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes decreased by 18.1%.
Median Sold Price Compared To Nearby Cities
Frankfort Township | $171K | $388.3K | +127.1% |
West Frankfort | $68.1K | $87K | +27.7% |
Lake Creek | $95K | $117K | +23.2% |
Housing Supply in Frankfort Township, IL
How many homes are available in Frankfort Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
119 | 146 | +22.7% |
Summary: The Frankfort Township real estate market had 146 homes for sale in March 2024, a 22.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 25 | 29 | +16.0% |
3 Bedrooms | 33 | 45 | +36.4% |
4 Bedrooms | 40 | 49 | +22.5% |
5+ Bedrooms | 20 | 21 | +5.0% |
Summary: The Frankfort Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 36.4%, 4 bedroom homes increased by 22.5%, and 5+ bedroom homes increased by 5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
29 | 37 | +27.6% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in Frankfort Township in March 2024, up by 27.6% month-over-month. Of the 37 sold homes, 57% were sold under asking, 19% were sold at asking, and 24% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
47 Days | 30 Days | -35.0% |
Summary: Homes in Frankfort Township had an average of 30 days on market in Mar 2024, down by 35% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 37 homes were sold in Frankfort Township; 70% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.