Is Kankakee, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Kankakee has remained a Seller's Market.
Housing Prices in Kankakee, IL
How much do homes in Kankakee, IL cost?
Median Sold Price
$156,600
$108/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Kankakee was $156,600 in June 2024, up 22.3% from last year, and the median price per square foot was $108.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $79.9K | $46K | -42.4% |
2 Bedrooms | $110K | $104K | -5.4% |
3 Bedrooms | $132.7K | $169.9K | +28.0% |
4 Bedrooms | $144K | $187K | +29.9% |
5+ Bedrooms | $109.5K | $225K | +105.5% |
Summary: Kankakee housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 42.4%, 2 bedroom homes decreased by 5.4%, 3 bedroom homes increased by 28%, 4 bedroom homes increased by 29.9%, and 5+ bedroom homes increased by 105.5%.
Median Sold Price Compared To Nearby Cities
Kankakee | $128K | $156.6K | +22.3% |
Kankakee Township | $129.8K | $156.6K | +20.6% |
Bourbonnais Township | $210.6K | $245K | +16.3% |
Aroma Township | $176K | $192.5K | +9.4% |
Bradley | $175K | $190K | +8.6% |
Housing Supply in Kankakee, IL
How many homes are available in Kankakee, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
136 | 131 | -3.7% |
Summary: The Kankakee real estate market had 131 homes for sale in June 2024, a 3.7% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 42 | 40 | -4.8% |
3 Bedrooms | 52 | 51 | -1.9% |
4 Bedrooms | 31 | 28 | -9.7% |
5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The Kankakee housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 4.8%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 9.7%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
45 | 25 | -44.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in Kankakee in June 2024, down by 44.4% month-over-month. Of the 25 sold homes, 40% were sold under asking, 28% were sold at asking, and 32% were sold over asking.
Days on Market for Kankakee, IL
How long does it take to sell a home in Kankakee, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
26 Days | 34 Days | +31.8% |
Summary: Homes in Kankakee had an average of 34 days on market in Jun 2024, up by 31.8% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During June 2024, 25 homes were sold in Kankakee; 72% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.