Is Benton, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Benton was a Seller's Market.
Key Takeaway
Benton is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Benton, IL
How much do homes in Benton, IL cost?
Median Sold Price
$90,000
$60/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Benton have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Benton was $90,000 in March 2024, up 4.7% from last year, and the median price per square foot was $60.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $34.6K | $28.9K | -16.5% |
| 2 Bedrooms | $59.9K | $62.5K | +4.3% |
| 3 Bedrooms | $107K | $114.2K | +6.8% |
| 4 Bedrooms | $101K | $134.4K | +33.1% |
| 5+ Bedrooms | $148.6K | $232.5K | +56.5% |
Summary: Benton housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.5%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 33.1%, and 5+ bedroom homes increased by 56.5%.
Median Sold Price Compared To Nearby Cities
| Benton | $86K | $90K | +4.7% |
| Benton Township | $93K | $90K | -3.2% |
Housing Supply in Benton, IL
How many homes are available in Benton, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 48 | 52 | +8.3% |
Summary: The Benton real estate market had 52 homes for sale in March 2024, a 8.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 14 | 0.0% |
| 3 Bedrooms | 26 | 30 | +15.4% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Benton housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 15.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 8 | -38.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Benton, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Benton in March 2024, down by 38.5% month-over-month. Of the 8 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Benton, IL
How long does it take to sell a home in Benton, IL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 212 Days | 57 Days | -73.0% |
Summary: Homes in Benton had an average of 57 days on market in Mar 2024, down by 73% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Benton has remained consistent over time.
Summary: During March 2024, 8 homes were sold in Benton; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.