Is Champaign, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Champaign has remained a Seller's Market.
Housing Prices in Champaign, IL
How much do homes in Champaign, IL cost?
Median Sold Price
$205,111
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Champaign was $205,111 in March 2024, up 11.3% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $82.5K | $112.1K | +35.9% |
2 Bedrooms | $137.5K | $155K | +12.7% |
3 Bedrooms | $180K | $199.9K | +11.1% |
4 Bedrooms | $280K | $321K | +14.6% |
5+ Bedrooms | $327.4K | $337.5K | +3.1% |
Summary: Champaign housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.9%, 2 bedroom homes increased by 12.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 3.1%.
Median Sold Price Compared To Nearby Cities
Hensley Township | $87K | $104K | +19.5% |
Champaign | $184.2K | $205.1K | +11.3% |
Champaign City Township | $182.9K | $199.1K | +8.8% |
Savoy | $343K | $369.9K | +7.9% |
Champaign Township | $260K | $214.5K | -17.5% |
Housing Supply in Champaign, IL
How many homes are available in Champaign, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
205 | 218 | +6.3% |
Summary: The Champaign real estate market had 218 homes for sale in March 2024, a 6.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 34 | 34 | 0.0% |
3 Bedrooms | 103 | 105 | +1.9% |
4 Bedrooms | 47 | 55 | +17.0% |
5+ Bedrooms | 18 | 21 | +16.7% |
Summary: The Champaign 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 1.9%, 4 bedroom homes increased by 17%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
57 | 65 | +14.0% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 65 homes were sold or pending in Champaign in March 2024, up by 14.0% month-over-month. Of the 65 sold homes, 43% were sold under asking, 18% were sold at asking, and 38% were sold over asking.
Days on Market for Champaign, IL
How long does it take to sell a home in Champaign, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
37 Days | 35 Days | -4.9% |
Summary: Homes in Champaign had an average of 35 days on market in Mar 2024, down by 4.9% compared to last year.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During March 2024, 65 homes were sold in Champaign; 62% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.