Is Franklin Grove, IL 61031 a buyer’s or seller’s market?

The Franklin Grove housing market right now

In the three months ending August 31, 2026, 20% of homes in Franklin Grove, IL 61031 sold above their list price, the typical home went under contract in 35 days and there were 1.9 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 5 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking fell from 33%, homes sold faster (48 days then) and the median sale price rose 35% to $214,807. Overall, Franklin Grove is less competitive than a year ago, which gives buyers more room.

Within Lee County, homes here sell faster than in any other ZIP code in the county, and sell more often over asking than in 71%.

Nearby, buyers who want less competition could look at Sublette 61367 (0% sold over asking) or Paw Paw 61353 (0% sold over asking), while Dixon 61021 (31% sold over asking) is even more competitive.