Is Franklin Park, 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, 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
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Franklin Park was $300,000 in April 2024, up 9.1% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $145K | $142.4K | -1.8% |
2 Bedrooms | $246K | $255K | +3.7% |
3 Bedrooms | $287K | $310K | +8.0% |
4 Bedrooms | $330K | $355K | +7.6% |
5+ Bedrooms | $310K | $347.5K | +12.1% |
Summary: Franklin Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.8%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 12.1%.
Median Sold Price Compared To Nearby Cities
Northlake | $253.1K | $285K | +12.6% |
Franklin Park | $275K | $300K | +9.1% |
Leyden Township | $280K | $304.9K | +8.9% |
Melrose Park | $291K | $300K | +3.1% |
Schiller Park | $254K | $245K | -3.5% |
Housing Supply in Franklin Park, IL
How many homes are available in Franklin Park, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
36 | 37 | +2.8% |
Summary: The Franklin Park real estate market had 37 homes for sale in April 2024, a 2.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 8 | 12 | +50.0% |
3 Bedrooms | 20 | 17 | -15.0% |
4 Bedrooms | 5 | 4 | -20.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Franklin Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 15%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
15 | 8 | -46.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Franklin Park in April 2024, down by 46.7% month-over-month. Of the 8 sold homes, 25% were sold under asking, 38% were sold at asking, and 38% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
31 Days | 13 Days | -58.4% |
Summary: Homes in Franklin Park had an average of 13 days on market in Apr 2024, down by 58.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 8 homes were sold in Franklin Park; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.