Is Mokena, 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, Mokena has remained a Seller's Market.
Housing Prices in Mokena, IL
How much do homes in Mokena, IL cost?
Median Sold Price
$380,666
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Mokena was $380,666 in May 2024, up 2.6% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110K | $128K | +16.4% |
2 Bedrooms | $250K | $268.5K | +7.4% |
3 Bedrooms | $335K | $325K | -3.0% |
4 Bedrooms | $539.9K | $520K | -3.7% |
5+ Bedrooms | $549.8K | $710K | +29.1% |
Summary: Mokena housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.4%, 2 bedroom homes increased by 7.4%, 3 bedroom homes decreased by 3%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes increased by 29.1%.
Median Sold Price Compared To Nearby Cities
Tinley Park | $264.7K | $295K | +11.4% |
New Lenox Township | $361K | $395K | +9.4% |
Frankfort Township | $399.9K | $411.5K | +2.9% |
Mokena | $371K | $380.6K | +2.6% |
Frankfort | $512.2K | $461.2K | -10.0% |
Housing Supply in Mokena, IL
How many homes are available in Mokena, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
82 | 98 | +19.5% |
Summary: The Mokena real estate market had 98 homes for sale in May 2024, a 19.5% 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 | 18 | 19 | +5.6% |
3 Bedrooms | 20 | 32 | +60.0% |
4 Bedrooms | 27 | 29 | +7.4% |
5+ Bedrooms | 17 | 18 | +5.9% |
Summary: The Mokena 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 5.6%, 3 bedroom homes increased by 60%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
27 | 23 | -14.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Mokena in May 2024, down by 14.8% month-over-month. Of the 23 sold homes, 30% were sold under asking, 35% were sold at asking, and 35% were sold over asking.
Days on Market for Mokena, IL
How long does it take to sell a home in Mokena, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
37 Days | 20 Days | -46.0% |
Summary: Homes in Mokena had an average of 20 days on market in May 2024, down by 46% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 23 homes were sold in Mokena; 83% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.