How Competitive is the Frankfort, IL Housing Market?
Frankfort, a city near Chicago, IL, is a competitive housing market. About 31% of homes sold above list price in the 3 months ending June 2026, down from a year ago.
The National Picture
24.6% of U.S. homes sold for above asking in June 2026, with a sale-to-list ratio of 98.3%. Frankfort's 31.9% and 99.0% both exceed those national figures, placing it near the national competitive level.
Higher Prices Keep Bidding Wars Uncommon
At 99% sale-to-list, Frankfort homes sell slightly below asking on average—the only sub-100% ratio among Will County suburbs in this comparison. Days on market sits at 50, and only 45% of listings go pending within two weeks. Nearby New Lenox (56%, 68% off-market) and Bolingbrook (57%, 65%) are both meaningfully more competitive, making Frankfort a relative haven for buyers who want a higher-end home without bidding wars.
Why is Frankfort Competitive?
Frankfort is competitive because solid demand from families meets a supply level just tight enough to produce regular above-asking offers. With 2.4 months of supply and 175 active listings, the market remains tight enough to generate bidding competition. Inventory grew 26% year over year, which tempers overbidding. About 17% of listings carry price drops, suggesting some sellers overshoot initially. Pending sales rose 20%, signaling demand continues to grow.
Nearby Neighborhoods
| Neighborhood | Sold Above List | Sale-to-List | Days on Market | Off Mkt in 2 Wks |
|---|---|---|---|---|
| Frankfort | 31.9% | 99.0% | 50 days | 44.7% |
| Mokena, IL | 37.4% | 100.0% | 46 days | 59.3% |
| New Lenox, IL | 55.8% | 101.4% | 41 days | 68.1% |
| Tinley Park, IL | 46.9% | 100.2% | 42 days | 61.4% |
| Joliet, IL | 43.9% | 100.1% | 51 days | 52.9% |
| Bolingbrook, IL | 56.7% | 101.3% | 43 days | 64.6% |
Limited to neighborhoods with at least 10 home sales in the period.
All data comes from Redfin and represents a three-month rolling average ending June 2026. This article has been generated, in whole or in part, using generative artificial intelligence (AI) technology, with input from Redfin head of economics research Chen Zhao. While efforts have been made to ensure the accuracy and reliability of this information, you should independently verify all data, facts, and citations contained in this article before relying on it for any purpose. This information is not a substitute for advice from a real estate agent, financial advisor, or other licensed professional. Check the Redfin Data Center for additional in-depth housing market data.
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