Is Newport 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, Newport Township has remained a Seller's Market.
Housing Prices in Newport Township, IL
How much do homes in Newport Township, IL cost?
Median Sold Price
$377,000
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Newport Township was $377,000 in May 2024, up 11.3% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $212.5K | $219.9K | +3.5% |
3 Bedrooms | $326.8K | $321K | -1.8% |
4 Bedrooms | $348K | $445K | +27.9% |
5+ Bedrooms | $600.4K | $650K | +8.3% |
Summary: Newport 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 increased by 3.5%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 27.9%, and 5+ bedroom homes increased by 8.3%.
Median Sold Price Compared To Nearby Cities
Zion Township | $185K | $218.2K | +17.9% |
Newport Township | $338.8K | $377K | +11.3% |
Wadsworth | $376.6K | $412.5K | +9.5% |
Beach Park | $245K | $248K | +1.2% |
Housing Supply in Newport Township, IL
How many homes are available in Newport Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
27 | 37 | +37.0% |
Summary: The Newport Township real estate market had 37 homes for sale in May 2024, a 37.0% 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 | 5 | 6 | +20.0% |
3 Bedrooms | 7 | 17 | +142.9% |
4 Bedrooms | 10 | 11 | +10.0% |
5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Newport 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 20%, 3 bedroom homes increased by 142.9%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
8 | 7 | -12.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Newport Township in May 2024, down by 12.5% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for Newport Township, IL
How long does it take to sell a home in Newport Township, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
40 Days | 8 Days | -79.7% |
Summary: Homes in Newport Township had an average of 8 days on market in May 2024, down by 79.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 7 homes were sold in Newport Township; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.