Is Momence, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Momence is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Momence, IL

How much do homes in Momence, IL cost?

Median Sold Price

$169,950

$124/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$15,550(+10.1%)

Key Takeaway

Homes in Momence have sold for 10.1% more than they did a year ago.

Summary: The median home sold price in Momence was $169,950 in May 2024, up 10.1% from last year, and the median price per square foot was $124.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $68K$69.5K
+2.2%
2 $142.5K$147K
+3.2%
3 $157.9K$175K
+10.8%
4 $135K$236K
+74.8%
5+ $170K-
N/A

Summary: Momence housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.2%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 74.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Momence Township
+18.8%
Ganeer Township
+18.6%
Momence
+10.1%

Housing Supply in Momence, IL

How many homes are available in Momence, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1922+15.8%

Summary: The Momence real estate market had 22 homes for sale in May 2024, a 15.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 01
+100.0%
2 54
-20.0%
3 1113
+18.2%
4 34
+33.3%
5+ 00
0.0%

Summary: The Momence housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
59+80.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Momence, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Momence in May 2024, up by 80.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 33% were sold at asking, and 11% were sold over asking.

Days on Market for Momence, IL

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

Average Sale Time

May 2023May 2024CHANGE
11 Days53 Days+360.0%

Summary: Homes in Momence had an average of 53 days on market in May 2024, up by 360% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 9 homes were sold in Momence; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% 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 Momence, IL

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