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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Channahon is a seller's market

Buyer's
Market

Difference Since June 2023

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

Key Takeaway

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

Housing Prices in Channahon, IL

How much do homes in Channahon, IL cost?

Median Sold Price

$365,500

$170/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$26,056(+7.7%)

Key Takeaway

Homes in Channahon have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in Channahon was $365,500 in June 2024, up 7.7% from last year, and the median price per square foot was $170.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 --
N/A
2 $246K$280K
+13.8%
3 $317.5K$352.5K
+11.0%
4 $375K$411.3K
+9.7%
5+ $397.5K$370K
-6.9%

Summary: Channahon 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 13.8%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes decreased by 6.9%.

Median Sold Price Compared To Nearby Cities

Elwood
+19.4%
Aux Sable Township
+15.5%
Channahon
+7.7%
Channahon
+7.5%
Channahon Township
+5.5%

Housing Supply in Channahon, IL

How many homes are available in Channahon, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
8489+6.0%

Summary: The Channahon real estate market had 89 homes for sale in June 2024, a 6.0% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 00
0.0%
2 1214
+16.7%
3 5051
+2.0%
4 1922
+15.8%
5+ 32
-33.3%

Summary: The Channahon housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

May 2024Jun 2024CHANGE
2223+4.5%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Channahon, you may be able to get a good deal. 34.8% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in Channahon in June 2024, up by 4.5% month-over-month. Of the 23 sold homes, 35% were sold under asking, 30% were sold at asking, and 35% were sold over asking.

Days on Market for Channahon, IL

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

Average Sale Time

Jun 2023Jun 2024CHANGE
55 Days19 Days-64.4%

Summary: Homes in Channahon had an average of 19 days on market in Jun 2024, down by 64.4% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During June 2024, 23 homes were sold in Channahon; 78% of homes were sold within 30 days, 17% 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 26 Days Ago

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