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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Homer Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Homer Township, IL

How much do homes in Homer Township, IL cost?

Median Sold Price

$420,000

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$35,000(+9.1%)

Key Takeaway

Homes in Homer Township have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in Homer Township was $420,000 in May 2024, up 9.1% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$635K
N/A
2 $262.5K$271K
+3.2%
3 $342K$355K
+3.8%
4 $447.9K$517K
+15.4%
5+ $574.9K$612.5K
+6.5%

Summary: Homer Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 6.5%.

Median Sold Price Compared To Nearby Cities

Lemont
+10.5%
Homer Glen
+9.3%
Homer Township
+9.1%
Lockport
+8.8%
Lemont Township
+4.7%

Housing Supply in Homer Township, IL

How many homes are available in Homer Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
123156+26.8%

Summary: The Homer Township real estate market had 156 homes for sale in May 2024, a 26.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 1521
+40.0%
3 4551
+13.3%
4 3755
+48.6%
5+ 2528
+12.0%

Summary: The Homer Township housing inventory by bedroom type for May 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 13.3%, 4 bedroom homes increased by 48.6%, and 5+ bedroom homes increased by 12%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3136+16.1%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Homer Township, you could pay more than the asking price. 47.2% of homes here sold above asking price last month.

Summary: A total of 36 homes were sold or pending in Homer Township in May 2024, up by 16.1% month-over-month. Of the 36 sold homes, 31% were sold under asking, 22% were sold at asking, and 47% were sold over asking.

Days on Market for Homer Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
22 Days12 Days-44.9%

Summary: Homes in Homer Township had an average of 12 days on market in May 2024, down by 44.9% compared to last year.

Breakdown of Home Sale Times

32 Homes Were Sold
Under 30 Days

4 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 Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 36 homes were sold in Homer Township; 89% of homes were sold within 30 days, 11% 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 16 Days Ago

Newest Listings in Homer Township, IL

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