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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Flora Township is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Flora Township, IL

How much do homes in Flora Township, IL cost?

Median Sold Price

$121,500

$86/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$13,500(-10.0%)

Key Takeaway

Homes in Flora Township have sold for 10% less than they did a year ago.

Summary: The median home sold price in Flora Township was $121,500 in March 2024, down 10% from last year, and the median price per square foot was $86.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $53.9K$81K
+50.3%
2 $128.7K$82.7K
-35.7%
3 $135.9K$127.5K
-6.2%
4 $345K$194.9K
-43.5%
5+ $400K$165K
-58.8%

Summary: Flora Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 50.3%, 2 bedroom homes decreased by 35.7%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes decreased by 43.5%, and 5+ bedroom homes decreased by 58.8%.

Median Sold Price Compared To Nearby Cities

Belvidere
+30.0%
Belvidere Township
+11.6%
Cherry Valley
+10.6%
Flora Township
-10.0%
Franklin Township
-23.0%

Housing Supply in Flora Township, IL

How many homes are available in Flora Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1618+12.5%

Summary: The Flora Township real estate market had 18 homes for sale in March 2024, a 12.5% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 22
0.0%
2 57
+40.0%
3 56
+20.0%
4 43
-25.0%
5+ 00
0.0%

Summary: The Flora Township 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 increased by 40%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
38+166.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

6 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Flora Township, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.

Summary: A total of 8 homes were sold or pending in Flora Township in March 2024, up by 166.7% month-over-month. Of the 8 sold homes, 13% were sold under asking, 75% were sold at asking, and 13% were sold over asking.

Days on Market for Flora Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
38 Days57 Days+49.9%

Summary: Homes in Flora Township had an average of 57 days on market in Mar 2024, up by 49.9% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 8 homes were sold in Flora Township; 63% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 25% 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 25 Days Ago

Newest Listings in Flora Township, IL

Nearby Markets to Flora Township, IL

What housing markets are near Flora Township, IL?