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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Homer is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Homer, IL

How much do homes in Homer, IL cost?

Median Sold Price

$175,000

$107/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$50,000(+40.0%)

Key Takeaway

Homes in Homer have sold for 40% more than they did a year ago.

Summary: The median home sold price in Homer was $175,000 in November 2024, up 40% from last year, and the median price per square foot was $107.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $210.5K$82K
-61.0%
3 $114.5K$175K
+52.8%
4 $145K$212.5K
+46.6%
5+ $93.5K$325K
+247.6%

Summary: Homer housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 61%, 3 bedroom homes increased by 52.8%, 4 bedroom homes increased by 46.6%, and 5+ bedroom homes increased by 247.6%.

Median Sold Price Compared To Nearby Cities

South Homer Township
+48.7%
Homer
+40.0%

Housing Supply in Homer, IL

How many homes are available in Homer, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
106-40.0%

Summary: The Homer real estate market had 6 homes for sale in November 2024, a 40.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 22
0.0%
3 52
-60.0%
4 31
-66.7%
5+ 01
+100.0%

Summary: The Homer housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 60%, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Homer, 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 Homer in November 2024, down by 33.3% 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 Homer, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
74 Days20 Days-72.3%

Summary: Homes in Homer had an average of 20 days on market in Nov 2024, down by 72.3% compared to last year.

Breakdown of Home Sale Times

2 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 Homer are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 2 homes were sold in Homer; 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 1 Day Ago

Newest Listings in Homer, IL

Nearby Markets to Homer, IL