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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Granite City Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Granite City Township, IL

How much do homes in Granite City Township, IL cost?

Median Sold Price

$120,000

$91/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$10,013(+9.1%)

Key Takeaway

Homes in Granite City Township have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in Granite City Township was $120,000 in May 2024, up 9.1% from last year, and the median price per square foot was $91.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $32.2K$25K
-22.5%
2 $84K$88K
+4.8%
3 $125.7K$139.9K
+11.3%
4 $155K$166.4K
+7.4%
5+ $167.5K$289.5K
+72.8%

Summary: Granite City Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.5%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 72.8%.

Median Sold Price Compared To Nearby Cities

Madison
+78.6%
Venice Township
+47.1%
Nameoki Township
+17.1%
Granite City Township
+9.1%
Granite City
+9.1%

Housing Supply in Granite City Township, IL

How many homes are available in Granite City Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
149148-0.7%

Summary: The Granite City Township real estate market had 148 homes for sale in May 2024, a 0.7% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 23
+50.0%
2 5054
+8.0%
3 7570
-6.7%
4 2017
-15.0%
5+ 24
+100.0%

Summary: The Granite City Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 8%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 15%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
5542-23.6%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Granite City Township, you may be able to get a good deal. 35.7% of homes here sold below asking price last month.

Summary: A total of 42 homes were sold or pending in Granite City Township in May 2024, down by 23.6% month-over-month. Of the 42 sold homes, 36% were sold under asking, 29% were sold at asking, and 36% were sold over asking.

Days on Market for Granite City Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
39 Days34 Days-13.1%

Summary: Homes in Granite City Township had an average of 34 days on market in May 2024, down by 13.1% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 42 homes were sold in Granite City Township; 52% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 5% 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 Granite City Township, IL

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