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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Maine Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Maine Township, IL

How much do homes in Maine Township, IL cost?

Median Sold Price

$363,329

$230/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$31,772(+9.6%)

Key Takeaway

Homes in Maine Township have sold for 9.6% more than they did a year ago.

Summary: The median home sold price in Maine Township was $363,329 in May 2024, up 9.6% from last year, and the median price per square foot was $230.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $132.2K$150K
+13.4%
2 $234.1K$254.7K
+8.8%
3 $360.2K$400K
+11.0%
4 $512.5K$549.9K
+7.3%
5+ $650K$650K
0.0%

Summary: Maine Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.4%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Niles
+10.0%
Maine Township
+9.6%
Park Ridge
+7.1%
Des Plaines
+1.7%

Housing Supply in Maine Township, IL

How many homes are available in Maine Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
411494+20.2%

Summary: The Maine Township real estate market had 494 homes for sale in May 2024, a 20.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 2729
+7.4%
2 112131
+17.0%
3 157202
+28.7%
4 8489
+6.0%
5+ 3143
+38.7%

Summary: The Maine Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.4%, 2 bedroom homes increased by 17%, 3 bedroom homes increased by 28.7%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 38.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
130157+20.8%

Asking Price vs. Sold Price

69 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

69 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Maine Township, you may be able to get a good deal. 43.9% of homes here sold below asking price last month.

Summary: A total of 157 homes were sold or pending in Maine Township in May 2024, up by 20.8% month-over-month. Of the 157 sold homes, 44% were sold under asking, 12% were sold at asking, and 44% were sold over asking.

Days on Market for Maine Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
19 Days23 Days+18.6%

Summary: Homes in Maine Township had an average of 23 days on market in May 2024, up by 18.6% compared to last year.

Breakdown of Home Sale Times

125 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

10 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 157 homes were sold in Maine Township; 80% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 6% 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 Maine Township, IL

Nearby Markets to Maine Township, IL

What housing markets are near Maine Township, IL?