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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bourbonnais is a seller's market

Buyer's
Market

Difference Since June 2023

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

Key Takeaway

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

Housing Prices in Bourbonnais, IL

How much do homes in Bourbonnais, IL cost?

Median Sold Price

$286,333

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$38,333(+15.5%)

Key Takeaway

Homes in Bourbonnais have sold for 15.5% more than they did a year ago.

Summary: The median home sold price in Bourbonnais was $286,333 in June 2024, up 15.5% from last year, and the median price per square foot was $157.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 --
N/A
2 $173.2K$220K
+27.0%
3 $234.5K$273K
+16.4%
4 $287.4K$320K
+11.3%
5+ $303.5K$368.7K
+21.5%

Summary: Bourbonnais housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 21.5%.

Median Sold Price Compared To Nearby Cities

Bourbonnais Township
+16.3%
Bourbonnais
+15.5%
Bradley
+8.6%
Manteno Township
+5.9%
Manteno
+2.5%

Housing Supply in Bourbonnais, IL

How many homes are available in Bourbonnais, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
8184+3.7%

Summary: The Bourbonnais real estate market had 84 homes for sale in June 2024, a 3.7% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 01
+100.0%
2 89
+12.5%
3 5150
-2.0%
4 1718
+5.9%
5+ 56
+20.0%

Summary: The Bourbonnais housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

May 2024Jun 2024CHANGE
27270.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bourbonnais, you could pay more than the asking price. 40.7% of homes here sold above asking price last month.

Summary: A total of 27 homes were sold or pending in Bourbonnais in June 2024, the same as the previous month. Of the 27 sold homes, 33% were sold under asking, 26% were sold at asking, and 41% were sold over asking.

Days on Market for Bourbonnais, IL

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

Average Sale Time

Jun 2023Jun 2024CHANGE
23 Days23 Days+3.7%

Summary: Homes in Bourbonnais had an average of 23 days on market in Jun 2024, up by 3.7% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During June 2024, 27 homes were sold in Bourbonnais; 74% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 4% 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 19 Days Ago

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