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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Benton is a neutral's market

Buyer's
Market

Difference Since Last Month

Last month, 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

$131,250

$86/sqft

Based on all homes sold in September 2024.

Difference Since Last Month

+$41,250(+45.8%)

Key Takeaway

Homes in Benton have sold for 45.8% more than they did a month ago.

Summary: The median home sold price in Benton was $131,250 in September 2024, up 45.8% from last month, and the median price per square foot was $86.

Median Sold Price By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 --
N/A
2 $40K$15.9K
-60.3%
3 $111.1K$131.2K
+18.1%
4 $450K$158K
-64.9%
5+ --
N/A

Summary: Benton housing prices by bedroom type for September 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 60.3%, 3 bedroom homes increased by 18.1%, 4 bedroom homes decreased by 64.9%, and 5+ bedroom homes did not change.

Housing Supply in Benton, IL

How many homes are available in Benton, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
5453-1.9%

Summary: The Benton real estate market had 53 homes for sale in September 2024, a 1.9% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 12
+100.0%
2 2222
0.0%
3 1715
-11.8%
4 1313
0.0%
5+ 11
0.0%

Summary: The Benton housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
118-27.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Benton, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Benton in September 2024, down by 27.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 38% 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

Aug 2024Sep 2024CHANGE
67 Days16 Days-75.4%

Summary: Homes in Benton had an average of 16 days on market in Sep 2024, down by 75.4% compared to last month.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 8 homes were sold in Benton; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% 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 6 Days Ago

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