Is Austin, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Austin is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Austin, IL

How much do homes in Austin, IL cost?

Median Sold Price

$289,083

$146/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$38,416(+15.3%)

Key Takeaway

Homes in Austin have sold for 15.3% more than they did a year ago.

Summary: The median home sold price in Austin was $289,083 in April 2024, up 15.3% from last year, and the median price per square foot was $146.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $350K$349K
-0.3%
2 $96.5K$176K
+82.4%
3 $212K$240K
+13.2%
4 $273.3K$285K
+4.3%
5+ $291.7K$350K
+20.0%

Summary: Austin housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.3%, 2 bedroom homes increased by 82.4%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 20%.

Median Sold Price Compared To Nearby Neighborhoods

Austin
+15.3%
West Side
+0.9%
Galewood
+0.6%

Housing Supply in Austin, IL

How many homes are available in Austin, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
198240+21.2%

Summary: The Austin real estate market had 240 homes for sale in April 2024, a 21.2% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 47
+75.0%
2 1723
+35.3%
3 3449
+44.1%
4 5668
+21.4%
5+ 8793
+6.9%

Summary: The Austin housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 75%, 2 bedroom homes increased by 35.3%, 3 bedroom homes increased by 44.1%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 6.9%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
3843+13.2%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Austin, you may be able to get a good deal. 48.8% of homes here sold below asking price last month.

Summary: A total of 43 homes were sold or pending in Austin in April 2024, up by 13.2% month-over-month. Of the 43 sold homes, 49% were sold under asking, 16% were sold at asking, and 35% were sold over asking.

Days on Market for Austin, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
54 Days60 Days+11.5%

Summary: Homes in Austin had an average of 60 days on market in Apr 2024, up by 11.5% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

12 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 43 homes were sold in Austin; 47% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 28% 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 3 Days Ago

Newest Listings in Austin, IL

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