Frankfort, IL Market Trends February 2011 to 2012

By
Real Estate Agent with HomeSmart Realty Group

The charts and table below will show real estate market trends for single family Frankfort homes from February 2011 through February 2012.  The chart below shows the number of listings for each month over the past year.  As you can see, listings peaked in March and May of last year and have declined with a small uptick in 2012.

Number of Frankfort homes listed

Anyone can list their home for sale, so the next graph shows how many actually sold and closed.  The peak month was August, which means that the contracts were accepted generally anywhere from May through July.  It has been downhill since but looks like a slight upswing in February 2012.

number of Frankfort homes that sold and closed

The next graph shows average list prices for the time period.  There are a couple peaks and valleys but for the most part it has stayed pretty even.

Frankfort homes average list price

The next chart shows what buyers are willing to pay.  The average sale price is what an appriaser will use to determine appraised value of a Frankfort home.  If you compare the graph above, the sale prices are lower than list prices, which is usually the case with most areas.

Average sold price of homes in Frankfort

The table below shows data for each month, including average days on market.  It helps to interpret the graphs above with exact figures.

Frankfort real estate sales statistics

This post is in response to Active Rain's Real Estate Recovery or Not article.  I personally feel it's too early in the year to do comparisons, especially since most activity occurs in later months, but this at least shows us which months get the most activity throughout a 12 month period.  The above figures are provided by MRED LLC

2012 real estate predictions

Posted by
Judy Orr
HomeSmart Realty Group
18305 Distinctive Dr.
Orland Park, IL, 60467
US
Work: 708-536-8200
Fax: 708-249-0074
 
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Rainmaker
1,137,194
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Judy - Anyone interested in the Frankfort, Illinois area is going to find your real estate market report very helpful.  Nicely done!

Mar 25, 2012 04:02 AM #1
Rainmaker
219,620
Judy Orr
HomeSmart Realty Group - Orland Park, IL
SW & Near West Chicago suburbs

Thanks Laura.  Your comment actually helped me find a couple of typos - hope I fixed them all!

Mar 25, 2012 05:02 AM #2
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Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

Thanks for the trend information for your area, Judy.  I actually like reading market reports from around the country. Keep up the good work!

Apr 16, 2012 03:54 AM #3
Rainmaker
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Judy Orr
HomeSmart Realty Group - Orland Park, IL
SW & Near West Chicago suburbs

Thanks for stopping by Suzanne.  These reports keep me on my toes for the villages I work in.

Apr 16, 2012 04:22 AM #4
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Rainmaker
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Judy Orr

SW & Near West Chicago suburbs
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