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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Buffalo Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Buffalo Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Buffalo Township, IL

How much do homes in Buffalo Township, IL cost?

Median Sold Price

$127,500

$75/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$22,050(+20.9%)

Key Takeaway

Homes in Buffalo Township have sold for 20.9% more than they did a year ago.

Summary: The median home sold price in Buffalo Township was $127,500 in May 2024, up 20.9% from last year, and the median price per square foot was $75.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $89.5K$79.5K
-11.2%
3 $107K$132.5K
+23.8%
4 $80.3K$120K
+49.3%
5+ $171K$122.5K
-28.4%

Summary: Buffalo 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 decreased by 11.2%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 49.3%, and 5+ bedroom homes decreased by 28.4%.

Median Sold Price Compared To Nearby Cities

Buffalo Township
+20.9%
Lincoln Township
+1.9%

Housing Supply in Buffalo Township, IL

How many homes are available in Buffalo Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1614-12.5%

Summary: The Buffalo Township real estate market had 14 homes for sale in May 2024, a 12.5% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 02
+100.0%
3 75
-28.6%
4 75
-28.6%
5+ 22
0.0%

Summary: The Buffalo Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
38+166.7%

Asking Price vs. Sold Price

6 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 Buffalo Township, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Buffalo Township in May 2024, up by 166.7% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.

Days on Market for Buffalo Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
70 Days97 Days+38.6%

Summary: Homes in Buffalo Township had an average of 97 days on market in May 2024, up by 38.6% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 8 homes were sold in Buffalo Township; 50% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 38% 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 1 Day Ago

Newest Listings in Buffalo Township, IL

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