Is Flagg Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Flagg Township is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Flagg Township was a Seller's Market.

Key Takeaway

Flagg Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Flagg Township, IL

How much do homes in Flagg Township, IL cost?

Median Sold Price

$176,500

$125/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$19,000(+12.1%)

Key Takeaway

Homes in Flagg Township have sold for 12.1% more than they did a year ago.

Summary: The median home sold price in Flagg Township was $176,500 in May 2024, up 12.1% from last year, and the median price per square foot was $125.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $65K-
N/A
2 $118.4K$150K
+26.6%
3 $155K$175K
+12.9%
4 $195K$219K
+12.3%
5+ $221.9K$161K
-27.5%

Summary: Flagg Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 26.6%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes decreased by 27.5%.

Median Sold Price Compared To Nearby Cities

Rochelle
+19.6%
Flagg Township
+12.1%
Hillcrest
0.4%

Housing Supply in Flagg Township, IL

How many homes are available in Flagg Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3026-13.3%

Summary: The Flagg Township real estate market had 26 homes for sale in May 2024, a 13.3% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 01
+100.0%
2 53
-40.0%
3 1816
-11.1%
4 66
0.0%
5+ 10
-100.0%

Summary: The Flagg Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 40%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
153-80.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Flagg Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Flagg Township in May 2024, down by 80.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for Flagg Township, IL

How long does it take to sell a home in Flagg Township, IL?

Average Sale Time

May 2023May 2024CHANGE
40 Days8 Days-78.5%

Summary: Homes in Flagg Township had an average of 8 days on market in May 2024, down by 78.5% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 3 homes were sold in Flagg Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 5 Days Ago

Newest Listings in Flagg Township, IL

Nearby Markets to Flagg Township, IL

What housing markets are near Flagg Township, IL?