Is Freeport, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Freeport is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Freeport, IL

How much do homes in Freeport, IL cost?

Median Sold Price

$102,750

$73/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$2,250(-2.1%)

Key Takeaway

Homes in Freeport have sold for 2.1% less than they did a year ago.

Summary: The median home sold price in Freeport was $102,750 in May 2024, down 2.1% from last year, and the median price per square foot was $73.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $60K$70.2K
+17.1%
2 $78K$87K
+11.5%
3 $115.7K$120K
+3.7%
4 $110K$110K
0.0%
5+ $117.5K$69.5K
-40.9%

Summary: Freeport housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.1%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 3.7%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 40.9%.

Median Sold Price Compared To Nearby Cities

Freeport
-2.1%
Freeport Township
-2.1%
Harlem Township
-5.8%

Housing Supply in Freeport, IL

How many homes are available in Freeport, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
8396+15.7%

Summary: The Freeport real estate market had 96 homes for sale in May 2024, a 15.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 1417
+21.4%
3 3846
+21.1%
4 2425
+4.2%
5+ 67
+16.7%

Summary: The Freeport 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 21.4%, 3 bedroom homes increased by 21.1%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1828+55.6%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Freeport, you may be able to get a good deal. 46.4% of homes here sold below asking price last month.

Summary: A total of 28 homes were sold or pending in Freeport in May 2024, up by 55.6% month-over-month. Of the 28 sold homes, 46% were sold under asking, 21% were sold at asking, and 32% were sold over asking.

Days on Market for Freeport, IL

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

Average Sale Time

May 2023May 2024CHANGE
46 Days42 Days-9.9%

Summary: Homes in Freeport had an average of 42 days on market in May 2024, down by 9.9% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 28 homes were sold in Freeport; 57% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 18% 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

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