Is Kankakee County, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Kankakee County has remained a Seller's Market.
Housing Prices in Kankakee County, IL
How much do homes in Kankakee County, IL cost?
Median Sold Price
$193,914
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Kankakee County was $193,914 in February 2024, up 5.5% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | $56K | -55.2% |
2 Bedrooms | $130K | $136K | +4.6% |
3 Bedrooms | $190K | $199.9K | +5.2% |
4 Bedrooms | $245K | $259.5K | +5.9% |
5+ Bedrooms | $232.4K | $295K | +26.9% |
Summary: Kankakee County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 55.2%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 26.9%.
Median Sold Price Compared To Nearby Counties
Will County | $302.5K | $324.6K | +7.3% |
Kankakee County | $183.8K | $193.9K | +5.5% |
Iroquois County | $120K | $125.3K | +4.4% |
Grundy County | $249.8K | $255.9K | +2.4% |
Housing Supply in Kankakee County, IL
How many homes are available in Kankakee County, IL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
246 | 295 | +19.9% |
Summary: The Kankakee County real estate market had 295 homes for sale in February 2024, a 19.9% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 6 | +50.0% |
2 Bedrooms | 47 | 58 | +23.4% |
3 Bedrooms | 126 | 142 | +12.7% |
4 Bedrooms | 59 | 75 | +27.1% |
5+ Bedrooms | 10 | 14 | +40.0% |
Summary: The Kankakee County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 23.4%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 27.1%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
49 | 54 | +10.2% |
Asking Price vs. Sold Price
34 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 54 homes were sold or pending in Kankakee County in February 2024, up by 10.2% month-over-month. Of the 54 sold homes, 63% were sold under asking, 11% were sold at asking, and 26% were sold over asking.
Days on Market for Kankakee County, IL
How long does it take to sell a home in Kankakee County, IL?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
50 Days | 42 Days | -14.9% |
Summary: Homes in Kankakee County had an average of 42 days on market in Feb 2024, down by 14.9% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During February 2024, 54 homes were sold in Kankakee County; 48% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.