Is Gibson City, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gibson City is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Gibson City has remained a Seller's Market.

Key Takeaway

Gibson City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Gibson City, IL

How much do homes in Gibson City, IL cost?

Median Sold Price

$189,500

$122/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$67,500(+55.3%)

Key Takeaway

Homes in Gibson City have sold for 55.3% more than they did a year ago.

Summary: The median home sold price in Gibson City was $189,500 in April 2024, up 55.3% from last year, and the median price per square foot was $122.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $89K-
N/A
2 $87K$90K
+3.4%
3 $135.2K$199K
+47.1%
4 $180K$232K
+28.9%
5+ $165K$220K
+33.3%

Summary: Gibson City housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 47.1%, 4 bedroom homes increased by 28.9%, and 5+ bedroom homes increased by 33.3%.

Median Sold Price Compared To Nearby Cities

Gibson City
+55.3%
Drummer Township
+48.6%

Housing Supply in Gibson City, IL

How many homes are available in Gibson City, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1118+63.6%

Summary: The Gibson City real estate market had 18 homes for sale in April 2024, a 63.6% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 814
+75.0%
4 21
-50.0%
5+ 12
+100.0%

Summary: The Gibson City housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 75%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
15+400.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gibson City, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Gibson City in April 2024, up by 400.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.

Days on Market for Gibson City, IL

How long does it take to sell a home in Gibson City, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
29 Days69 Days+136.6%

Summary: Homes in Gibson City had an average of 69 days on market in Apr 2024, up by 136.6% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Gibson City are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 5 homes were sold in Gibson City; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated Apr 1, 2024

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