Is Frankfort, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Frankfort has remained a Seller's Market.
Housing Prices in Frankfort, IL
How much do homes in Frankfort, IL cost?
Median Sold Price
$451,633
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Frankfort was $451,633 in April 2024, down 14% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $205K | $202.7K | -1.1% |
2 Bedrooms | $365.7K | $288.7K | -21.1% |
3 Bedrooms | $426K | $355K | -16.7% |
4 Bedrooms | $608K | $565K | -7.1% |
5+ Bedrooms | $576K | $600K | +4.2% |
Summary: Frankfort housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.1%, 2 bedroom homes decreased by 21.1%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes increased by 4.2%.
Median Sold Price Compared To Nearby Cities
Mokena | $352.3K | $384.2K | +9.1% |
Green Garden Township | $547K | $570K | +4.2% |
Frankfort Township | $400.1K | $410.3K | +2.5% |
Matteson | $239.9K | $230K | -4.2% |
Frankfort | $525K | $451.6K | -14.0% |
Housing Supply in Frankfort, IL
How many homes are available in Frankfort, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
110 | 118 | +7.3% |
Summary: The Frankfort real estate market had 118 homes for sale in April 2024, a 7.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 16 | 18 | +12.5% |
3 Bedrooms | 28 | 37 | +32.1% |
4 Bedrooms | 43 | 43 | 0.0% |
5+ Bedrooms | 22 | 19 | -13.6% |
Summary: The Frankfort housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 32.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 13.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
32 | 28 | -12.5% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Frankfort in April 2024, down by 12.5% month-over-month. Of the 28 sold homes, 46% were sold under asking, 18% were sold at asking, and 36% were sold over asking.
Days on Market for Frankfort, IL
How long does it take to sell a home in Frankfort, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
43 Days | 27 Days | -37.4% |
Summary: Homes in Frankfort had an average of 27 days on market in Apr 2024, down by 37.4% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 28 homes were sold in Frankfort; 75% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.