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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Kankakee Township is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Kankakee Township, IL

How much do homes in Kankakee Township, IL cost?

Median Sold Price

$155,000

$110/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$36,312(+30.6%)

Key Takeaway

Homes in Kankakee Township have sold for 30.6% more than they did a year ago.

Summary: The median home sold price in Kankakee Township was $155,000 in March 2024, up 30.6% from last year, and the median price per square foot was $110.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $116K$46K
-60.3%
2 $105K$101K
-3.8%
3 $130K$170K
+30.8%
4 $129K$195K
+51.2%
5+ $100K$232.5K
+132.5%

Summary: Kankakee Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 60.3%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes increased by 30.8%, 4 bedroom homes increased by 51.2%, and 5+ bedroom homes increased by 132.5%.

Median Sold Price Compared To Nearby Cities

Kankakee
+33.0%
Kankakee Township
+30.6%
Aroma Township
+9.2%
Bradley
+5.9%

Housing Supply in Kankakee Township, IL

How many homes are available in Kankakee Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
109120+10.1%

Summary: The Kankakee Township real estate market had 120 homes for sale in March 2024, a 10.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 31
-66.7%
2 2531
+24.0%
3 5561
+10.9%
4 2125
+19.0%
5+ 52
-60.0%

Summary: The Kankakee Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 24%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 19%, and 5+ bedroom homes decreased by 60%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2225+13.6%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Kankakee Township, you may be able to get a good deal. 56% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in Kankakee Township in March 2024, up by 13.6% month-over-month. Of the 25 sold homes, 56% were sold under asking, 16% were sold at asking, and 28% were sold over asking.

Days on Market for Kankakee Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
61 Days60 Days-1.9%

Summary: Homes in Kankakee Township had an average of 60 days on market in Mar 2024, down by 1.9% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Kankakee Township are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 25 homes were sold in Kankakee Township; 56% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 24% 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 18 Days Ago

Newest Listings in Kankakee Township, IL

Nearby Markets to Kankakee Township, IL

What housing markets are near Kankakee Township, IL?