Is Franklin County, 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, Franklin County has remained a Seller's Market.
Housing Prices in Franklin County, IL
How much do homes in Franklin County, IL cost?
Median Sold Price
$87,000
$62/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Franklin County was $87,000 in March 2024, up 0.2% from last year, and the median price per square foot was $62.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $35K | $27.1K | -22.4% |
2 Bedrooms | $59.9K | $67.2K | +12.2% |
3 Bedrooms | $108.9K | $105K | -3.6% |
4 Bedrooms | $131.9K | $140K | +6.1% |
5+ Bedrooms | $225K | $210K | -6.7% |
Summary: Franklin County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.4%, 2 bedroom homes increased by 12.2%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes decreased by 6.7%.
Median Sold Price Compared To Nearby Counties
Jefferson County | $126.5K | $140K | +10.7% |
Williamson County | $148.2K | $160K | +7.9% |
Franklin County | $86.8K | $87K | 0.2% |
Perry County | $105K | $93K | -11.4% |
Housing Supply in Franklin County, IL
How many homes are available in Franklin County, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
143 | 158 | +10.5% |
Summary: The Franklin County real estate market had 158 homes for sale in March 2024, a 10.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 44 | 47 | +6.8% |
3 Bedrooms | 72 | 81 | +12.5% |
4 Bedrooms | 21 | 22 | +4.8% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Franklin County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
27 | 27 | 0.0% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Franklin County in March 2024, the same as the previous month. Of the 27 sold homes, 67% were sold under asking, 7% were sold at asking, and 26% were sold over asking.
Days on Market for Franklin County, IL
How long does it take to sell a home in Franklin County, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
140 Days | 34 Days | -75.7% |
Summary: Homes in Franklin County had an average of 34 days on market in Mar 2024, down by 75.7% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 27 homes were sold in Franklin County; 59% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.