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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Zion Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Zion Township, IL

How much do homes in Zion Township, IL cost?

Median Sold Price

$218,200

$155/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$33,200(+17.9%)

Key Takeaway

Homes in Zion Township have sold for 17.9% more than they did a year ago.

Summary: The median home sold price in Zion Township was $218,200 in May 2024, up 17.9% from last year, and the median price per square foot was $155.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $92K$80K
-13.0%
2 $130K$164K
+26.2%
3 $180.7K$220K
+21.7%
4 $221.5K$257K
+16.0%
5+ $239.9K$245K
+2.1%

Summary: Zion Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13%, 2 bedroom homes increased by 26.2%, 3 bedroom homes increased by 21.7%, 4 bedroom homes increased by 16%, and 5+ bedroom homes increased by 2.1%.

Median Sold Price Compared To Nearby Cities

Zion Township
+17.9%
Zion
+17.9%
Beach Park
+1.2%
Winthrop Harbor
0.0%
Benton Township
-12.2%

Housing Supply in Zion Township, IL

How many homes are available in Zion Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5672+28.6%

Summary: The Zion Township real estate market had 72 homes for sale in May 2024, a 28.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 10
-100.0%
2 911
+22.2%
3 2330
+30.4%
4 1619
+18.8%
5+ 712
+71.4%

Summary: The Zion Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 30.4%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 71.4%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1918-5.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Zion Township, you could pay more than the asking price. 61.1% of homes here sold above asking price last month.

Summary: A total of 18 homes were sold or pending in Zion Township in May 2024, down by 5.3% month-over-month. Of the 18 sold homes, 22% were sold under asking, 17% were sold at asking, and 61% were sold over asking.

Days on Market for Zion Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
40 Days31 Days-21.9%

Summary: Homes in Zion Township had an average of 31 days on market in May 2024, down by 21.9% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 18 homes were sold in Zion Township; 78% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 17% 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 Zion Township, IL

Nearby Markets to Zion Township, IL

What housing markets are near Zion Township, IL?