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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rantoul Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Rantoul Township, IL

How much do homes in Rantoul Township, IL cost?

Median Sold Price

$130,000

$96/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$30,000(+30.0%)

Key Takeaway

Homes in Rantoul Township have sold for 30% more than they did a year ago.

Summary: The median home sold price in Rantoul Township was $130,000 in May 2024, up 30% from last year, and the median price per square foot was $96.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $65K-
N/A
2 $77.2K$105.5K
+36.7%
3 $117K$135.5K
+15.8%
4 $132.5K$134.5K
+1.5%
5+ $158.9K$174.5K
+9.8%

Summary: Rantoul 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 36.7%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 9.8%.

Median Sold Price Compared To Nearby Cities

Rantoul Township
+30.0%
Rantoul
+30.0%
Ludlow Township
+6.2%

Housing Supply in Rantoul Township, IL

How many homes are available in Rantoul Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3332-3.0%

Summary: The Rantoul Township real estate market had 32 homes for sale in May 2024, a 3.0% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 73
-57.1%
3 2124
+14.3%
4 33
0.0%
5+ 22
0.0%

Summary: The Rantoul 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 57.1%, 3 bedroom homes increased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
1114+27.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rantoul Township, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in Rantoul Township in May 2024, up by 27.3% month-over-month. Of the 14 sold homes, 21% were sold under asking, 14% were sold at asking, and 64% were sold over asking.

Days on Market for Rantoul Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
21 Days5 Days-73.1%

Summary: Homes in Rantoul Township had an average of 5 days on market in May 2024, down by 73.1% 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

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 14 homes were sold in Rantoul 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.

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 Rantoul Township, IL

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