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 March 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

$363,067

$171/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$28,067(+8.4%)

Key Takeaway

Homes in Channahon have sold for 8.4% more than they did a year ago.

Summary: The median home sold price in Channahon was $363,067 in March 2024, up 8.4% from last year, and the median price per square foot was $171.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $215K$295.5K
+37.4%
3 $310.5K$357.4K
+15.1%
4 $370K$415.5K
+12.3%
5+ $367K$375.5K
+2.3%

Summary: Channahon housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 37.4%, 3 bedroom homes increased by 15.1%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 2.3%.

Median Sold Price Compared To Nearby Cities

Elwood
+31.3%
Aux Sable Township
+13.3%
Channahon
+8.4%
Channahon
+8.4%
Channahon Township
+5.9%

Housing Supply in Channahon, IL

How many homes are available in Channahon, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
5872+24.1%

Summary: The Channahon real estate market had 72 homes for sale in March 2024, a 24.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 810
+25.0%
3 2936
+24.1%
4 1723
+35.3%
5+ 43
-25.0%

Summary: The Channahon 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 increased by 25%, 3 bedroom homes increased by 24.1%, 4 bedroom homes increased by 35.3%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
718+157.1%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Channahon, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 18 homes were sold or pending in Channahon in March 2024, up by 157.1% month-over-month. Of the 18 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% 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

Mar 2023Mar 2024CHANGE
44 Days30 Days-31.9%

Summary: Homes in Channahon had an average of 30 days on market in Mar 2024, down by 31.9% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were 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 March 2024, 18 homes were sold in Channahon; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% 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 21 Days Ago

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