Will County Gazette

Will County Gazette

Thursday, April 2, 2020

Frankfort (Will County) home prices rise in the fourth quarter of 2017

Real Estate

By Local Labs News Service | Jan 14, 2018

Re 5

The median sale price of a home sold in the fourth quarter of 2017 in Frankfort in Will County rose by $23,500 while total sales increased by 21.9%, according to BlockShopper.com.

From October through December of 2017, there were 89 homes sold, with a median sale price of $373,500 - a 6.7% increase over the $350,000 median sale price for the same period of the previous year. There were 73 homes sold in Frankfort in the fourth quarter of 2016.

The median sales tax in Frankfort for 2017 was $8,791.50. In 2016, the median sales tax was $8,553.40. This marks an increase of 2.8%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.4%.

The following table compares Frankfort to other Will County cities with similar median sales prices in the fourth quarter of 2017:

City
Oct. - Dec. 2017 Home Sales
Oct. - Dec. 2016 Home Sales
% change (Total Home Sales)
Oct. - Dec. 2017 Median Sales Price
Oct. - Dec. 2016 Median Sales Price
% change (Median Sales Price)
Naperville
127
116
9.5%
$420,000
$395,000
6.3%
Frankfort
89
73
21.9%
$373,500
$350,000
6.7%
Graver Country Estates
1
0
-
$331,500
$0
-
River Edge Estates
2
0
-
$331,000
$0
-
Homer Glen
72
89
-19.1%
$309,500
$289,808
6.8%
Brook Crossings Estates
2
4
-50%
$309,500
$255,500
21.1%
Mokena
55
79
-30.4%
$287,000
$275,000
4.4%
Manhattan
68
73
-6.8%
$277,450
$228,000
21.7%
Lincoln Estates
1
1
0%
$270,000
$290,000
-6.9%
Plainfield
182
197
-7.6%
$265,775
$235,000
13.1%
Minooka
6
8
-25%
$257,500
$205,000
25.6%
* This story only considers sales data for the part of Frankfort that is in Will County.

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