Is Medina Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Medina Township has remained a Seller's Market.
Housing Prices in Medina Township, IL
How much do homes in Medina Township, IL cost?
Median Sold Price
$315,000
$113/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Medina Township was $315,000 in May 2024, up 10.5% from last year, and the median price per square foot was $113.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $40K | N/A |
2 Bedrooms | $179.9K | $130.4K | -27.5% |
3 Bedrooms | $217K | $240.5K | +10.8% |
4 Bedrooms | $290K | $328.7K | +13.4% |
5+ Bedrooms | $399K | $400K | 0.3% |
Summary: Medina 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 27.5%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 0.3%.
Median Sold Price Compared To Nearby Cities
Medina Township | $285K | $315K | +10.5% |
Peoria Heights | $109.9K | $115.7K | +5.3% |
Peoria | $126.1K | $129.3K | +2.5% |
Housing Supply in Medina Township, IL
How many homes are available in Medina Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
35 | 44 | +25.7% |
Summary: The Medina Township real estate market had 44 homes for sale in May 2024, a 25.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 3 | +200.0% |
3 Bedrooms | 7 | 9 | +28.6% |
4 Bedrooms | 11 | 15 | +36.4% |
5+ Bedrooms | 16 | 17 | +6.3% |
Summary: The Medina 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 200%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes increased by 6.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
10 | 14 | +40.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Medina Township in May 2024, up by 40.0% month-over-month. Of the 14 sold homes, 14% were sold under asking, 0% were sold at asking, and 86% were sold over asking.
Days on Market for Medina Township, IL
How long does it take to sell a home in Medina Township, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
24 Days | 1 Days | -92.4% |
Summary: Homes in Medina Township had an average of 1 days on market in May 2024, down by 92.4% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 14 homes were sold in Medina Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.