Is Frankfort, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Frankfort is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Frankfort, IN

How much do homes in Frankfort, IN cost?

Median Sold Price

$200,500

$129/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$51,250(+34.3%)

Key Takeaway

Homes in Frankfort have sold for 34.3% more than they did a year ago.

Summary: The median home sold price in Frankfort was $200,500 in May 2024, up 34.3% from last year, and the median price per square foot was $129.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $130.5K$112K
-14.2%
3 $149.2K$220K
+47.4%
4 $162.5K$243K
+49.5%
5+ $310.2K$419.9K
+35.4%

Summary: Frankfort housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.2%, 3 bedroom homes increased by 47.4%, 4 bedroom homes increased by 49.5%, and 5+ bedroom homes increased by 35.4%.

Median Sold Price Compared To Nearby Cities

Frankfort
+34.3%
Center Township
+17.8%

Housing Supply in Frankfort, IN

How many homes are available in Frankfort, IN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2741+51.9%

Summary: The Frankfort real estate market had 41 homes for sale in May 2024, a 51.9% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 68
+33.3%
3 1223
+91.7%
4 810
+25.0%
5+ 10
-100.0%

Summary: The Frankfort housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 91.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
713+85.7%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Frankfort, expect to pay close to the asking price. 46.2% of homes here sold near the asking price last month.

Summary: A total of 13 homes were sold or pending in Frankfort in May 2024, up by 85.7% month-over-month. Of the 13 sold homes, 31% were sold under asking, 46% were sold at asking, and 23% were sold over asking.

Days on Market for Frankfort, IN

How long does it take to sell a home in Frankfort, IN?

Average Sale Time

May 2023May 2024CHANGE
28 Days12 Days-57.3%

Summary: Homes in Frankfort had an average of 12 days on market in May 2024, down by 57.3% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 13 homes were sold in Frankfort; 23% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% 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 1 Day Ago

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