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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Farmingdale is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Farmingdale, IL

How much do homes in Farmingdale, IL cost?

Median Sold Price

$490,000

$220/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$13,650(+2.9%)

Key Takeaway

Homes in Farmingdale have sold for 2.9% more than they did a year ago.

Summary: The median home sold price in Farmingdale was $490,000 in March 2024, up 2.9% from last year, and the median price per square foot was $220.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $450K-
N/A
3 $432.5K$460.8K
+6.5%
4 $515K$520K
+1.0%
5+ $582.5K$581K
-0.3%

Summary: Farmingdale 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 did not change, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 0.3%.

Housing Supply in Farmingdale, IL

How many homes are available in Farmingdale, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
85-37.5%

Summary: The Farmingdale real estate market had 5 homes for sale in March 2024, a 37.5% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 00
0.0%
3 33
0.0%
4 52
-60.0%
5+ 00
0.0%

Summary: The Farmingdale 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 60%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
34+33.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Farmingdale, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Farmingdale in March 2024, up by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.

Days on Market for Farmingdale, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
41 Days8 Days-79.4%

Summary: Homes in Farmingdale had an average of 8 days on market in Mar 2024, down by 79.4% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 4 homes were sold in Farmingdale; 100% of homes were sold within 30 days, 0% 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 26 Days Ago

Newest Listings in Farmingdale, IL

Nearby Markets to Farmingdale, IL