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FRANKLIN, IL 62638

Real Estate Market Report  ·  Morgan County
Balanced Market
September 2026  ·  Source: Realtor.com

Market Analysis

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

The FRANKLIN, IL real estate market (62638) currently shows 2 active listings, with 1 pending sales. Homes are averaging 67 days on the market before going under contract.

Inventory levels are unchanged compared to last year.

Homes are taking longer to sell, averaging 67 days on market compared to 57 days last year.

The median listing price has risen 311.6% year-over-year, from $34,900 to $143,650.

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Market Context

Market Context

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

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

Market Overview

Active Listings
2
— vs 2 last year
Pending
1
50% pending ratio
Median Price
$143,650
⇧ 311.6% vs $34,900 last year
Average Price
$143,650
⇧ 311.6% vs $34,900 last year
Days on Market
67
⇧ 17.5% vs 57 days last year

Market Trends

Inventory & Days on Market

Year over Year
  • Days on market: 67 now vs 57 last year

Median & Average Pricing

Year over Year
  • Median: $143,650 (+311.6% YoY)
  • Average: $143,650 (+311.6% 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
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 24.0 miles — 151 listings ($39,459,364 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
62638Franklin, IL 626380.0 mi2$287,300$143,650$143,650
62692Waverly, IL 626927.8 mi4$203,800$50,950$50,950
62601Alexander, IL 6260110.2 mi1$64,900$64,900$64,900
62674Palmyra, IL 6267412.2 mi0$0$499,900$499,900
62670New Berlin, IL 6267013.7 mi3$450,975$150,325$150,325
62649Hettick, IL 6264916.8 mi2$298,000$149,000$149,000
62044Greenfield, IL 6204418.0 mi4$1,348,000$166,250$337,000
62640Girard, IL 6264019.0 mi7$1,000,419$124,950$142,917
62677Pleasant Plains, IL 6267720.1 mi5$2,416,525$381,175$483,305
62628Chapin, IL 6262820.7 mi5$296,250$57,750$59,250
62711Springfield, IL 6271121.6 mi33$16,043,214$436,925$486,158
62530Divernon, IL 6253022.9 mi3$449,901$152,450$149,967
62704Springfield, IL 6270424.0 mi82$16,600,080$148,425$202,440

Frequently Asked Questions

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

As of September 2026, there are 2 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 $143,650 as of September 2026, a 311.6% increase from $34,900 the prior year.

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

Homes in FRANKLIN, IL 62638 spend an average of 67 days on the market before going under contract, compared to 57 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 September 2026, FRANKLIN, IL 62638 is currently a Balanced Market. Inventory levels are unchanged compared to last year. Homes are taking longer to sell, averaging 67 days on market compared to 57 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 $2,873 compared to a typical 5% commission on the median listing price of $143,650. 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.