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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Groveland Township is a seller's market

Buyer's
Market

Difference Since August 2023

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

Key Takeaway

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

Housing Prices in Groveland Township, IL

How much do homes in Groveland Township, IL cost?

Median Sold Price

$161,300

$99/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$11,300(+7.5%)

Key Takeaway

Homes in Groveland Township have sold for 7.5% more than they did a year ago.

Summary: The median home sold price in Groveland Township was $161,300 in August 2024, up 7.5% from last year, and the median price per square foot was $99.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $35K$62K
+77.1%
2 $93K$89.9K
-3.3%
3 $150K$162.5K
+8.3%
4 $209K$235K
+12.4%
5+ $360K$320K
-11.1%

Summary: Groveland Township housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 77.1%, 2 bedroom homes decreased by 3.3%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes decreased by 11.1%.

Median Sold Price Compared To Nearby Cities

Marquette Heights
+13.1%
Groveland Township
+7.5%
East Peoria
+6.4%
Creve Coeur
+6.1%

Housing Supply in Groveland Township, IL

How many homes are available in Groveland Township, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
7789+15.6%

Summary: The Groveland Township real estate market had 89 homes for sale in August 2024, a 15.6% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 14
+300.0%
2 1618
+12.5%
3 3642
+16.7%
4 1918
-5.3%
5+ 57
+40.0%

Summary: The Groveland Township housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 300%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 40%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
2241+86.4%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Groveland Township, you may be able to get a good deal. 41.5% of homes here sold below asking price last month.

Summary: A total of 41 homes were sold or pending in Groveland Township in August 2024, up by 86.4% month-over-month. Of the 41 sold homes, 41% were sold under asking, 22% were sold at asking, and 37% were sold over asking.

Days on Market for Groveland Township, IL

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

Average Sale Time

Aug 2023Aug 2024CHANGE
18 Days20 Days+14.0%

Summary: Homes in Groveland Township had an average of 20 days on market in Aug 2024, up by 14% compared to last year.

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2024, 41 homes were sold in Groveland Township; 83% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 10% 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 12 Days Ago

Newest Listings in Groveland Township, IL

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What housing markets are near Groveland Township, IL?