Is Franklin Park, 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, Franklin Park has remained a Seller's Market.
Housing Prices in Franklin Park, IL
How much do homes in Franklin Park, IL cost?
Median Sold Price
$300,000
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Franklin Park was $300,000 in February 2024, up 7.5% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $145K | $142.4K | -1.8% |
2 Bedrooms | $247.9K | $250K | +0.8% |
3 Bedrooms | $285K | $305K | +7.0% |
4 Bedrooms | $332K | $355K | +6.9% |
5+ Bedrooms | $365K | $320K | -12.3% |
Summary: Franklin Park housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.8%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes decreased by 12.3%.
Median Sold Price Compared To Nearby Cities
Franklin Park | $279K | $300K | +7.5% |
Leyden Township | $280.6K | $301.3K | +7.3% |
Schiller Park | $251.5K | $260K | +3.4% |
Melrose Park | $301K | $295.5K | -1.8% |
Housing Supply in Franklin Park, IL
How many homes are available in Franklin Park, IL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
27 | 29 | +7.4% |
Summary: The Franklin Park real estate market had 29 homes for sale in February 2024, a 7.4% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 8 | +100.0% |
3 Bedrooms | 15 | 14 | -6.7% |
4 Bedrooms | 5 | 5 | 0.0% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Franklin Park housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
6 | 5 | -16.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Franklin Park in February 2024, down by 16.7% month-over-month. Of the 5 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Franklin Park, IL
How long does it take to sell a home in Franklin Park, IL?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
47 Days | 39 Days | -15.3% |
Summary: Homes in Franklin Park had an average of 39 days on market in Feb 2024, down by 15.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During February 2024, 5 homes were sold in Franklin Park; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.