Is Chatham Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Chatham Township has remained a Seller's Market.
Key Takeaway
Chatham Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chatham Township, IL
How much do homes in Chatham Township, IL cost?
Median Sold Price
$285,000
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Chatham Township have sold for 21% more than they did a year ago.
Summary: The median home sold price in Chatham Township was $285,000 in April 2024, up 21% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $96K | N/A |
| 2 Bedrooms | $154K | $148.4K | -3.6% |
| 3 Bedrooms | $196.7K | $230K | +16.9% |
| 4 Bedrooms | $325K | $355.7K | +9.5% |
| 5+ Bedrooms | $385K | $387K | 0.5% |
Summary: Chatham Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.6%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 0.5%.
Median Sold Price Compared To Nearby Cities
| Chatham Township | $235.5K | $285K | +21.0% |
| Chatham | $252.5K | $285K | +12.9% |
| Ball Township | $310.2K | $350K | +12.8% |
| Auburn Township | $140K | $143K | +2.1% |
Housing Supply in Chatham Township, IL
How many homes are available in Chatham Township, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 57 | 66 | +15.8% |
Summary: The Chatham Township real estate market had 66 homes for sale in April 2024, a 15.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 35 | 39 | +11.4% |
| 4 Bedrooms | 17 | 19 | +11.8% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Chatham Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 18 | +50.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chatham Township, you could pay more than the asking price. 38.9% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Chatham Township in April 2024, up by 50.0% month-over-month. Of the 18 sold homes, 33% were sold under asking, 28% were sold at asking, and 39% were sold over asking.
Days on Market for Chatham Township, IL
How long does it take to sell a home in Chatham Township, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 36 Days | 51 Days | +39.5% |
Summary: Homes in Chatham Township had an average of 51 days on market in Apr 2024, up by 39.5% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chatham Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 18 homes were sold in Chatham Township; 78% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.