Is Urbana, 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, Urbana has remained a Seller's Market.
Housing Prices in Urbana, IL
How much do homes in Urbana, IL cost?
Median Sold Price
$196,516
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Urbana was $196,516 in April 2024, up 15.6% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $72.5K | $82.5K | +13.8% |
2 Bedrooms | $119K | $127.7K | +7.4% |
3 Bedrooms | $181K | $220K | +21.5% |
4 Bedrooms | $202.5K | $250K | +23.5% |
5+ Bedrooms | $229K | $250K | +9.2% |
Summary: Urbana housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.8%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 21.5%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes increased by 9.2%.
Median Sold Price Compared To Nearby Cities
Urbana Township | $158.7K | $196.5K | +23.8% |
Cunningham Township | $170K | $202.3K | +19.0% |
Urbana | $170K | $196.5K | +15.6% |
Champaign | $182.5K | $210.5K | +15.3% |
Housing Supply in Urbana, IL
How many homes are available in Urbana, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
150 | 147 | -2.0% |
Summary: The Urbana real estate market had 147 homes for sale in April 2024, a 2.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 2 | -50.0% |
2 Bedrooms | 29 | 27 | -6.9% |
3 Bedrooms | 81 | 79 | -2.5% |
4 Bedrooms | 23 | 26 | +13.0% |
5+ Bedrooms | 13 | 13 | 0.0% |
Summary: The Urbana housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 6.9%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes increased by 13%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
35 | 47 | +34.3% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 47 homes were sold or pending in Urbana in April 2024, up by 34.3% month-over-month. Of the 47 sold homes, 40% were sold under asking, 26% were sold at asking, and 34% were sold over asking.
Days on Market for Urbana, IL
How long does it take to sell a home in Urbana, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
26 Days | 30 Days | +14.5% |
Summary: Homes in Urbana had an average of 30 days on market in Apr 2024, up by 14.5% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 47 homes were sold in Urbana; 70% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.