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FRANKLIN, IL 62638

Real Estate Market Report  ·  Morgan County
Seller's Market
January 2026  ·  Source: Realtor.com

Market Overview

Active Listings
1
⇩ 50% vs 2 last year
Pending
1
100% pending ratio
Median Price
$149,900
⇩ 31.8% vs $219,900 last year
Average Price
$149,900
⇩ 31.8% vs $219,900 last year
Days on Market
81
⇩ 53.4% vs 174 days last year

Market Context

Population: 1,288  ·  Density: 7.4/mi²  ·  Median household income: $78,500

Typical home value: $118,076  ·  Homeownership: 82.3%

Market Analysis

Data as of January 2026. Source: Realtor.com.

The FRANKLIN, IL real estate market (62638) currently shows 1 active listings, with 1 pending sales. Homes are averaging 81 days on the market before going under contract.

Inventory has tightened compared to last year, with 1 fewer active listings — creating more competition among buyers.

Homes are selling faster, averaging 81 days on market compared to 174 days last year.

The median listing price has fallen 31.8% year-over-year, from $219,900 to $149,900.

Whether you are buying or selling in FRANKLIN, IL, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 1 this year vs 2 last year
  • Days on market: 81 now vs 174 last year

Median & Average Pricing

Year over Year
  • Median: $149,900 (-31.8% YoY)
  • Average: $149,900 (-31.8% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 24.0 miles — 134 listings ($26,908,839 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
62638Franklin, IL 626380.0 mi1$149,900$149,900$149,900
62668Murrayville, IL 626688.5 mi2$400,000$200,000$200,000
62601Alexander, IL 6260110.2 mi1$64,900$64,900$64,900
62674Palmyra, IL 6267412.2 mi1$499,900$499,900$499,900
62670New Berlin, IL 6267013.7 mi3$279,600$93,200$93,200
62649Hettick, IL 6264916.8 mi2$303,000$151,500$151,500
62044Greenfield, IL 6204418.0 mi4$1,709,332$265,000$427,333
62640Girard, IL 6264019.0 mi9$1,177,074$110,000$130,786
62677Pleasant Plains, IL 6267720.1 mi6$3,247,350$259,450$541,225
62628Chapin, IL 6262820.7 mi5$275,000$52,000$55,000
62631Concord, IL 6263121.1 mi1$109,900$109,900$109,900
62092White Hall, IL 6209221.9 mi11$1,303,027$89,900$118,457
62704Springfield, IL 6270424.0 mi88$17,389,856$164,900$197,612

Frequently Asked Questions

How many homes are for sale in FRANKLIN, IL 62638?

As of January 2026, there are 1 active listings in FRANKLIN, IL (zip code 62638), compared to 2 the prior year.

What is the median home price in FRANKLIN, IL 62638?

The median listing price in FRANKLIN, IL 62638 is $149,900 as of January 2026, a 31.8% decrease from $219,900 the prior year.

How long do homes stay on the market in FRANKLIN, IL?

Homes in FRANKLIN, IL 62638 spend an average of 81 days on the market before going under contract, compared to 174 days the prior year.

Is it a seller's or buyer's market in FRANKLIN, IL 62638?

Based on current inventory and days-on-market data as of January 2026, FRANKLIN, IL 62638 is currently a Seller's Market. Inventory has tightened compared to last year, with 1 fewer active listings — creating more competition among buyers. Homes are selling faster, averaging 81 days on market compared to 174 days last year.

How much can I save on real estate commission in FRANKLIN, IL?

With SELL123.com's maximum 3% commission, sellers in FRANKLIN, IL 62638 save an estimated $2,998 compared to a typical 5% commission on the median listing price of $149,900. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.