
It is still a seller's market out there with buyers having less inventory to choose from compared to previous years. We are seeing a slight decline in home prices, compared to the height in 2022. This is the real estate market update for Frankfort and Mokena, Il.
If you are looking to buy or sell, I'd be happy to work with you. Contact me here.
Currently (April 24, 2023) there are 72 homes (single family homes and condos/duplexes) available on the MLS market in Frankfort & Mokena Illinois. The majority of the available homes average between $600,000 & $700,000 with an average of 157 days to sell at that price point. There are still just 15 at this price point.
39 new homes came available just this past week with 17 sales in Frankfort & Mokena. There are currently 28 homes under contract (with many of those going under contract just days after listing).
If you are looking to purchase a home under $300,000... you better be preapproved and ready to view a home as soon as your realtor finds out it's going to be listed as there are currently only 5 homes available in this price point.
These images are taken from the Midwest Real Estate Data website and are showing information for the month of April.


Average Mortgage Rates. Holding steady just under 7% (which is lower than average past 30 years rates, though not as fun as 2022!)


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