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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Marion Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Marion Township, IL

How much do homes in Marion Township, IL cost?

Median Sold Price

$184,000

$108/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$9,000(+5.1%)

Key Takeaway

Homes in Marion Township have sold for 5.1% more than they did a year ago.

Summary: The median home sold price in Marion Township was $184,000 in May 2024, up 5.1% from last year, and the median price per square foot was $108.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $24K$103.5K
+331.3%
2 $78.4K$92.4K
+17.8%
3 $175K$183K
+4.6%
4 $339.9K$278K
-18.2%
5+ $412.4K$425K
+3.0%

Summary: Marion Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 331.3%, 2 bedroom homes increased by 17.8%, 3 bedroom homes increased by 4.6%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes increased by 3%.

Median Sold Price Compared To Nearby Cities

Stillman Valley
+32.7%
Scott Township
+23.8%
Byron
+13.5%
Byron Township
+5.3%
Marion Township
+5.1%

Housing Supply in Marion Township, IL

How many homes are available in Marion Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
118127+7.6%

Summary: The Marion Township real estate market had 127 homes for sale in May 2024, a 7.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1817
-5.6%
3 7177
+8.5%
4 2328
+21.7%
5+ 65
-16.7%

Summary: The Marion 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 decreased by 5.6%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 21.7%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2634+30.8%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Marion Township, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.

Summary: A total of 34 homes were sold or pending in Marion Township in May 2024, up by 30.8% month-over-month. Of the 34 sold homes, 47% were sold under asking, 18% were sold at asking, and 35% were sold over asking.

Days on Market for Marion Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
16 Days31 Days+92.0%

Summary: Homes in Marion Township had an average of 31 days on market in May 2024, up by 92% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 34 homes were sold in Marion Township; 65% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 12% 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 Marion Township, IL

Nearby Markets to Marion Township, IL

What housing markets are near Marion Township, IL?