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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing DeKalb is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in DeKalb, IL

How much do homes in DeKalb, IL cost?

Median Sold Price

$224,722

$141/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$29,722(+15.2%)

Key Takeaway

Homes in DeKalb have sold for 15.2% more than they did a year ago.

Summary: The median home sold price in DeKalb was $224,722 in May 2024, up 15.2% from last year, and the median price per square foot was $141.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $136K-
N/A
2 $155K$182.5K
+17.7%
3 $190K$228.4K
+20.2%
4 $237K$275K
+16.0%
5+ $263K$223.5K
-15.0%

Summary: DeKalb housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17.7%, 3 bedroom homes increased by 20.2%, 4 bedroom homes increased by 16%, and 5+ bedroom homes decreased by 15%.

Median Sold Price Compared To Nearby Cities

Sycamore
+24.6%
DeKalb
+15.2%
DeKalb Township
+11.9%
Cortland Township
+9.3%
Cortland
+5.9%

Housing Supply in DeKalb, IL

How many homes are available in DeKalb, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
9299+7.6%

Summary: The DeKalb real estate market had 99 homes for sale in May 2024, a 7.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 01
+100.0%
2 1823
+27.8%
3 3835
-7.9%
4 2130
+42.9%
5+ 1510
-33.3%

Summary: The DeKalb housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 27.8%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2922-24.1%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in DeKalb, you could pay more than the asking price. 68.2% of homes here sold above asking price last month.

Summary: A total of 22 homes were sold or pending in DeKalb in May 2024, down by 24.1% month-over-month. Of the 22 sold homes, 9% were sold under asking, 23% were sold at asking, and 68% were sold over asking.

Days on Market for DeKalb, IL

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

Average Sale Time

May 2023May 2024CHANGE
13 Days20 Days+46.8%

Summary: Homes in DeKalb had an average of 20 days on market in May 2024, up by 46.8% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 22 homes were sold in DeKalb; 91% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 5% 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 16 Days Ago

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