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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Champaign is a seller's market

Buyer's
Market

Difference Since September 2021

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

Key Takeaway

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

How much do homes in Champaign, IL cost?

Median Sold Price

$184,105

$124/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$10,673(+6.2%)

Key Takeaway

Homes in Champaign have sold for 6.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $94K$79.9K
-15.0%
2 $127.5K$133K
+4.3%
3 $169.6K$178K
+4.9%
4 $265.7K$282.5K
+6.3%
5+ $299K$325.8K
+9.0%

Median Sold Price Compared To Nearby Cities

Hensley Township
+18.0%
Savoy
+15.4%
Champaign Township
+10.3%
Champaign
+6.2%
Champaign City Township
+6.2%

How many homes are available in Champaign, IL?

Number of Homes For Sale

Aug 2022Sep 2022%
346321-7.2%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 66
0.0%
2 6058
-3.3%
3 186163
-12.4%
4 8176
-6.2%
5+ 1318
+38.5%

Number of Homes Sold

Aug 2022Sep 2022%
11598-14.8%

Asking Price vs. Sold Price

49 Homes Were Sold
Under Asking

25 Homes Were Sold
At Asking

24 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Champaign, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Average Sale Time

Sep 2021Sep 2022%
18 Days27 Days+53.5%

Breakdown of Home Sale Times

71 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

11 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Champaign, IL

Champaign, IL has 321 homes for sale to choose from. The number of listings in Champaign, IL decreased by 7.2% between August 2022 and September 2022. In September 2022 median list price was $184,105 and the average listing age was 27 days. Listing prices have changed in this real estate market between August 2022 and September 2022: prices of 1 bedroom properties decreased by 15%, prices of 2 bedrooms properties went up by 4.3%, the cost of 3 bedrooms properties went up by 4.9%, 4 bedrooms properties prices increased by 6.3%, 5 bedrooms properties prices increased by 9%. Volume of homes for sale changed: 1 bedroom homes did not move, volume of 2 bedrooms homes went down by 3.3%, the quantity of 3 bedrooms homes went down by 12.4%, volume of 4 bedrooms homes went down by 6.2%, the quantity of 5 bedrooms homes went up by 38.5%. While more than 24 listings in Champaign, IL in September 2022 were sold above asking price, there were more than 25 listings sold at asking price, and more than 49 were sold below.

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