Is Reed 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, Reed Township has remained a Seller's Market.
Housing Prices in Reed Township, IL
How much do homes in Reed Township, IL cost?
Median Sold Price
$223,500
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Reed Township was $223,500 in May 2024, up 10.1% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $97K | $112.5K | +16.0% |
2 Bedrooms | $157.5K | $186.4K | +18.4% |
3 Bedrooms | $227K | $242.5K | +6.8% |
4 Bedrooms | $298.6K | $300K | 0.5% |
5+ Bedrooms | $385K | $385K | 0.0% |
Summary: Reed Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16%, 2 bedroom homes increased by 18.4%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Braidwood | $203K | $227K | +11.8% |
Reed Township | $203K | $223.5K | +10.1% |
Braceville Township | $209.9K | $230.7K | +9.9% |
Housing Supply in Reed Township, IL
How many homes are available in Reed Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
37 | 41 | +10.8% |
Summary: The Reed Township real estate market had 41 homes for sale in May 2024, a 10.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 9 | 0.0% |
2 Bedrooms | 5 | 7 | +40.0% |
3 Bedrooms | 19 | 19 | 0.0% |
4 Bedrooms | 4 | 6 | +50.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Reed 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 40%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
8 | 12 | +50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Reed Township in May 2024, up by 50.0% month-over-month. Of the 12 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Reed Township, IL
How long does it take to sell a home in Reed Township, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
25 Days | 24 Days | -5.0% |
Summary: Homes in Reed Township had an average of 24 days on market in May 2024, down by 5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 12 homes were sold in Reed Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.