Is Farmington Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Farmington Township was a Neutral Market.
Key Takeaway
Farmington Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Farmington Township, IL
How much do homes in Farmington Township, IL cost?
Median Sold Price
$97,250
$63/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Farmington Township have sold for 13.9% less than they did a year ago.
Summary: The median home sold price in Farmington Township was $97,250 in April 2024, down 13.9% from last year, and the median price per square foot was $63.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $74K | $55K | -25.7% |
| 3 Bedrooms | $116.5K | $103.5K | -11.2% |
| 4 Bedrooms | $114K | $136.2K | +19.5% |
| 5+ Bedrooms | - | $55K | N/A |
Summary: Farmington 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 25.7%, 3 bedroom homes decreased by 11.2%, 4 bedroom homes increased by 19.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Canton Township | $85K | $99K | +16.5% |
| Farmington | $110K | $97.2K | -11.6% |
| Farmington Township | $113K | $97.2K | -13.9% |
Housing Supply in Farmington Township, IL
How many homes are available in Farmington Township, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Summary: The Farmington Township real estate market had 8 homes for sale in April 2024, a 14.3% 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 | 2 | 4 | +100.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Farmington 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 remained the same, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 0 | 2 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Farmington Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Farmington Township in April 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Farmington Township, IL
How long does it take to sell a home in Farmington Township, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 24 Days | 74 Days | +210.4% |
Summary: Homes in Farmington Township had an average of 74 days on market in Apr 2024, up by 210.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Farmington Township has remained consistent over time.
Summary: During April 2024, 2 homes were sold in Farmington Township; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.