Is Frankfort Township, 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 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
$410,333
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Frankfort Township was $410,333 in April 2024, up 2.5% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $142.5K | $130K | -8.8% |
2 Bedrooms | $260K | $290K | +11.5% |
3 Bedrooms | $334.7K | $350K | +4.6% |
4 Bedrooms | $541K | $525.6K | -2.8% |
5+ Bedrooms | $542.5K | $596K | +9.9% |
Summary: Frankfort Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.8%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 4.6%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 9.9%.
Median Sold Price Compared To Nearby Cities
Tinley Park | $262.6K | $292.8K | +11.5% |
Mokena | $352.3K | $384.2K | +9.1% |
Green Garden Township | $547K | $570K | +4.2% |
Frankfort Township | $400.1K | $410.3K | +2.5% |
Frankfort | $525K | $451.6K | -14.0% |
Housing Supply in Frankfort Township, IL
How many homes are available in Frankfort Township, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
191 | 201 | +5.2% |
Summary: The Frankfort Township real estate market had 201 homes for sale in April 2024, a 5.2% 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 | 38 | 39 | +2.6% |
3 Bedrooms | 52 | 62 | +19.2% |
4 Bedrooms | 62 | 63 | +1.6% |
5+ Bedrooms | 38 | 36 | -5.3% |
Summary: The Frankfort Township 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 2.6%, 3 bedroom homes increased by 19.2%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 5.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
61 | 59 | -3.3% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
27 Homes Were Sold
Over Asking
Summary: A total of 59 homes were sold or pending in Frankfort Township in April 2024, down by 3.3% month-over-month. Of the 59 sold homes, 39% were sold under asking, 15% were sold at asking, and 46% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
34 Days | 26 Days | -23.7% |
Summary: Homes in Frankfort Township had an average of 26 days on market in Apr 2024, down by 23.7% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During April 2024, 59 homes were sold in Frankfort Township; 75% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.