Is Franklin County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Franklin County is a seller's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Franklin County was a Neutral Market.

Key Takeaway

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

Housing Prices in Franklin County, IL

How much do homes in Franklin County, IL cost?

Median Sold Price

$87,500

$64/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$1,500(-1.7%)

Key Takeaway

Homes in Franklin County have sold for 1.7% less than they did a year ago.

Summary: The median home sold price in Franklin County was $87,500 in April 2024, down 1.7% from last year, and the median price per square foot was $64.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $35K$27.1K
-22.4%
2 $61K$66K
+8.2%
3 $110.9K$106K
-4.5%
4 $138.9K$134.5K
-3.2%
5+ $225K$210K
-6.7%

Summary: Franklin County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.4%, 2 bedroom homes increased by 8.2%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes decreased by 6.7%.

Median Sold Price Compared To Nearby Counties

Jefferson County
+12.0%
Williamson County
+11.5%
Franklin County
-1.7%
Perry County
-6.2%

Housing Supply in Franklin County, IL

How many homes are available in Franklin County, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
159157-1.3%

Summary: The Franklin County real estate market had 157 homes for sale in April 2024, a 1.3% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 33
0.0%
2 4846
-4.2%
3 8081
+1.3%
4 2322
-4.3%
5+ 55
0.0%

Summary: The Franklin County 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 decreased by 4.2%, 3 bedroom homes increased by 1.3%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2732+18.5%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Franklin County, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.

Summary: A total of 32 homes were sold or pending in Franklin County in April 2024, up by 18.5% month-over-month. Of the 32 sold homes, 44% were sold under asking, 28% were sold at asking, and 28% were sold over asking.

Days on Market for Franklin County, IL

How long does it take to sell a home in Franklin County, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
32 Days52 Days+59.2%

Summary: Homes in Franklin County had an average of 52 days on market in Apr 2024, up by 59.2% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 32 homes were sold in Franklin County; 50% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 19% 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 10 Days Ago

Newest Listings in Franklin County, IL

Nearby Markets to Franklin County, IL

What housing markets are near Franklin County, IL?