Is Chemung Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chemung Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Chemung Township, IL

How much do homes in Chemung Township, IL cost?

Median Sold Price

$240,000

$146/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$40,000(+20.0%)

Key Takeaway

Homes in Chemung Township have sold for 20% more than they did a year ago.

Summary: The median home sold price in Chemung Township was $240,000 in November 2024, up 20% from last year, and the median price per square foot was $146.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $155.2K$191K
+23.0%
3 $206.2K$247.5K
+20.0%
4 $200K$245K
+22.5%
5+ $193.2K$338.5K
+75.2%

Summary: Chemung Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 22.5%, and 5+ bedroom homes increased by 75.2%.

Median Sold Price Compared To Nearby Cities

Harvard
+25.1%
Chemung Township
+20.0%

Housing Supply in Chemung Township, IL

How many homes are available in Chemung Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2624-7.7%

Summary: The Chemung Township real estate market had 24 homes for sale in November 2024, a 7.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 34
+33.3%
3 1111
0.0%
4 63
-50.0%
5+ 55
0.0%

Summary: The Chemung Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
770.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chemung Township, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in Chemung Township in November 2024, the same as the previous month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.

Days on Market for Chemung Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
23 Days22 Days-3.0%

Summary: Homes in Chemung Township had an average of 22 days on market in Nov 2024, down by 3% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 7 homes were sold in Chemung Township; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% 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 4 Days Ago

Newest Listings in Chemung Township, IL

Nearby Markets to Chemung Township, IL

What housing markets are near Chemung Township, IL?