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 April 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

$414,000

$177/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$29,000(+7.5%)

Key Takeaway

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

Summary: The median home sold price in Homer Township was $414,000 in April 2024, up 7.5% from last year, and the median price per square foot was $177.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $262.5K$271K
+3.2%
3 $345K$355K
+2.9%
4 $455K$512.3K
+12.6%
5+ $540K$607.5K
+12.5%

Summary: Homer 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 increased by 3.2%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes increased by 12.5%.

Median Sold Price Compared To Nearby Cities

Homer Glen
+10.3%
Lockport
+8.8%
Lemont
+7.8%
Homer Township
+7.5%
Lemont Township
+2.4%

Housing Supply in Homer Township, IL

How many homes are available in Homer Township, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
98132+34.7%

Summary: The Homer Township real estate market had 132 homes for sale in April 2024, a 34.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 1116
+45.5%
3 3647
+30.6%
4 3042
+40.0%
5+ 2127
+28.6%

Summary: The Homer 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 45.5%, 3 bedroom homes increased by 30.6%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 28.6%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2729+7.4%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

13 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. 44.8% of homes here sold above asking price last month.

Summary: A total of 29 homes were sold or pending in Homer Township in April 2024, up by 7.4% month-over-month. Of the 29 sold homes, 38% were sold under asking, 17% were sold at asking, and 45% 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

Apr 2023Apr 2024CHANGE
23 Days12 Days-47.0%

Summary: Homes in Homer Township had an average of 12 days on market in Apr 2024, down by 47% compared to last year.

Breakdown of Home Sale Times

25 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 April 2024, 29 homes were sold in Homer Township; 86% of homes were sold within 30 days, 14% 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 10 Days Ago

Newest Listings in Homer Township, IL

Nearby Markets to Homer Township, IL

What housing markets are near Homer Township, IL?