Is Franklin County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Franklin County is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Franklin County has remained a Seller's Market.

Key Takeaway

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

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

+$166(+0.2%)

Key Takeaway

The sold price of homes in Franklin County has remained the same since last year.

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

# BEDSMar 2023Mar 2024CHANGE
1 $35K$27.1K
-22.4%
2 $59.9K$67.2K
+12.2%
3 $108.9K$105K
-3.6%
4 $131.9K$140K
+6.1%
5+ $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
+10.7%
Williamson County
+7.9%
Franklin County
0.2%
Perry County
-11.4%

Housing Supply in Franklin County, IL

How many homes are available in Franklin County, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
143158+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

# BEDSFeb 2024Mar 2024CHANGE
1 23
+50.0%
2 4447
+6.8%
3 7281
+12.5%
4 2122
+4.8%
5+ 45
+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 2024Mar 2024CHANGE
27270.0%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Franklin County, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

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 2023Mar 2024CHANGE
140 Days34 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 22 Days Ago

Newest Listings in Franklin County, IL

Nearby Markets to Franklin County, IL

What housing markets are near Franklin County, IL?