Mortgage rates are still climbing up little by little and homes in Frankfort are still holding strong.
The average price a single detached home in Frankfort, Illinois is listed for this month is $446,936 and the average sold price is $585,723.
It's taking about 24 days for a home to sell, which has increased slightly since last month and we are still seeing offers over listing price on most homes here.
Inventory of homes in Frankfort, IL
The inventory selection right now low, many homeowners are content staying in their home and as you know the school season just started which historically has meant less homes on the market.
Check out the image below for the past year of homes for sale. Last September 46 new homes came to market, we are about halfway through the month and have just had 17, I believe we will end up around 35-40 homes for the month. Winter months will start dropping inventory choices, as you see last December only 16 homes were listed in Frankfort and I expect even less this year.
If moving to Frankfort is your goal, keep your eye on inventory choices and save your money, clean up your credit and be prepared for a quick time frame to make an offer in, but know that spring is coming and with that means many more homes coming for sale!
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