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 March 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

$411,000

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$26,000(+6.8%)

Key Takeaway

Homes in Homer Township have sold for 6.8% more than they did a year ago.

Summary: The median home sold price in Homer Township was $411,000 in March 2024, up 6.8% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $259.9K$271.9K
+4.6%
3 $350K$355K
+1.4%
4 $460K$510K
+10.9%
5+ $519K$612.5K
+18.0%

Summary: Homer Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 18%.

Median Sold Price Compared To Nearby Cities

Homer Glen
+11.6%
Homer Township
+6.8%
Lockport
+6.7%
Lemont
+3.9%
Lemont Township
-2.1%

Housing Supply in Homer Township, IL

How many homes are available in Homer Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1001000.0%

Summary: The Homer Township real estate market had 100 homes for sale in March 2024, the same as February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 1112
+9.1%
3 3337
+12.1%
4 3731
-16.2%
5+ 1920
+5.3%

Summary: The Homer 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 9.1%, 3 bedroom homes increased by 12.1%, 4 bedroom homes decreased by 16.2%, and 5+ bedroom homes increased by 5.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
3325-24.2%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Homer Township, you may be able to get a good deal. 48% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in Homer Township in March 2024, down by 24.2% month-over-month. Of the 25 sold homes, 48% were sold under asking, 4% were sold at asking, and 48% 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

Mar 2023Mar 2024CHANGE
35 Days23 Days-35.3%

Summary: Homes in Homer Township had an average of 23 days on market in Mar 2024, down by 35.3% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 March 2024, 25 homes were sold in Homer Township; 76% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 4% 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 22 Days Ago

Newest Listings in Homer Township, IL

Nearby Markets to Homer Township, IL

What housing markets are near Homer Township, IL?