Frankfort IL Real Estate Market Update | September 2026

The Frankfort real estate market continued to favor sellers in September, but buyers had noticeably more inventory to choose from than they did a year ago.

According to Realtors Property Resource data for single-family homes, condos, townhomes, and apartments, Frankfort ended September with 2.69 months of inventory. That was essentially unchanged from August, but it was 74.7% higher than a year earlier. RPR still classified Frankfort as a seller’s market.

More inventory, but sellers still have leverage

Frankfort had 86 active listings and 26 sales in September. Active inventory has generally been trending higher through the summer, giving buyers more options than they had earlier in the year.

Even with that increase in supply, sellers continued to see strong results. Homes that closed in September sold for an average of 99.24% of their list price, and the median time in RPR was just 9 days.

That combination is important. Buyers have more choices, but well-positioned homes are still moving relatively quickly and selling close to asking price.

New listings slowed slightly

There were 53 new listings in Frankfort during September, down 5.4% from August. The median list price of those new listings was $615,000, down 3.8% month over month.

The median list price of active listings was $645,000 at the end of September.

That means inventory has improved, but the homes currently available still skew toward higher price points.

What happened with September’s median sale price?

The September median sold price was $452,500, down 21.3% from August. Twenty-six properties sold during the month, which was down 21.2% from August.

That monthly price decline deserves context.

The September median sold price was only 2.69% lower than it was 12 months earlier, while RPR’s median estimated property value for Frankfort was $543,330, up 4.4% year over year.

Those two measurements are not the same thing. A monthly median sale price can move significantly depending on the mix of homes that happened to close. For example, a month with more lower-priced homes closing can pull the median down even if broader property values have not fallen at the same rate.

That is why one month’s median sale price should not be viewed by itself.

What the Frankfort real estate market means for sellers

Sellers are still operating in a favorable market.

With less than three months of inventory, homes selling at roughly 99% of asking price, and a median of 9 days in RPR, the September data still shows strong seller leverage.

At the same time, buyers have more choices than they had a year ago. That makes pricing, condition, presentation, and marketing increasingly important. More inventory means sellers are competing with a larger group of available homes.

What the Frankfort real estate market means for buyers

The increase in inventory is encouraging for buyers.

A year-over-year increase of nearly 75% in months of inventory means buyers have more opportunities to compare properties and potentially avoid some of the pressure that comes with extremely tight inventory.

However, this is not yet a buyer’s market. Properties that are priced appropriately are still selling quickly and close to list price.

The September takeaway

Frankfort’s September market was not simply “up” or “down.”

Inventory has increased considerably compared with last year, but the market still favors sellers. Buyers have more choices, while sellers continue to benefit from relatively fast sales and strong list-to-sale pricing.

As we move further into fall, the key numbers to watch will be whether inventory continues to rise, how quickly homes go under contract, and whether the gap between asking prices and final sale prices begins to change.

Market data sourced from Realtors Property Resource and reflects residential single-family, condo, townhouse, and apartment activity in Frankfort, Illinois. Market statistics can change as additional information is reported.