Is Champaign, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Champaign has remained a Seller's Market.
Housing Prices in Champaign, IL
How much do homes in Champaign, IL cost?
Median Sold Price
$210,500
$138/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Champaign was $210,500 in April 2024, up 15.3% from last year, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $81.2K | $110.5K | +36.1% |
2 Bedrooms | $138.9K | $155K | +11.6% |
3 Bedrooms | $180K | $200.7K | +11.5% |
4 Bedrooms | $274K | $329K | +20.1% |
5+ Bedrooms | $332K | $339.9K | +2.4% |
Summary: Champaign housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.1%, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 20.1%, and 5+ bedroom homes increased by 2.4%.
Median Sold Price Compared To Nearby Cities
Champaign | $182.5K | $210.5K | +15.3% |
Champaign City Township | $181K | $200.1K | +10.5% |
Savoy | $343K | $375K | +9.3% |
Champaign Township | $238K | $218.4K | -8.2% |
Housing Supply in Champaign, IL
How many homes are available in Champaign, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
226 | 232 | +2.7% |
Summary: The Champaign real estate market had 232 homes for sale in April 2024, a 2.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 34 | 33 | -2.9% |
3 Bedrooms | 111 | 113 | +1.8% |
4 Bedrooms | 57 | 64 | +12.3% |
5+ Bedrooms | 21 | 20 | -4.8% |
Summary: The Champaign housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes decreased by 4.8%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
68 | 64 | -5.9% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Summary: A total of 64 homes were sold or pending in Champaign in April 2024, down by 5.9% month-over-month. Of the 64 sold homes, 41% were sold under asking, 19% were sold at asking, and 41% were sold over asking.
Days on Market for Champaign, IL
How long does it take to sell a home in Champaign, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
21 Days | 30 Days | +43.0% |
Summary: Homes in Champaign had an average of 30 days on market in Apr 2024, up by 43% compared to last year.
Breakdown of Home Sale Times
50 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During April 2024, 64 homes were sold in Champaign; 78% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.