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 June 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

$156,600

$108/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$26,800(+20.6%)

Key Takeaway

Homes in Kankakee Township have sold for 20.6% more than they did a year ago.

Summary: The median home sold price in Kankakee Township was $156,600 in June 2024, up 20.6% from last year, and the median price per square foot was $108.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $79.9K$46K
-42.4%
2 $110K$104K
-5.4%
3 $135K$169.9K
+25.9%
4 $148K$187K
+26.4%
5+ $109.5K$225K
+105.5%

Summary: Kankakee Township 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 25.9%, 4 bedroom homes increased by 26.4%, and 5+ bedroom homes increased by 105.5%.

Median Sold Price Compared To Nearby Cities

Kankakee
+22.3%
Kankakee Township
+20.6%
Aroma Township
+9.4%
Bradley
+8.6%

Housing Supply in Kankakee Township, IL

How many homes are available in Kankakee Township, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
136131-3.7%

Summary: The Kankakee Township 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

# BEDSMay 2024Jun 2024CHANGE
1 00
0.0%
2 4240
-4.8%
3 5251
-1.9%
4 3128
-9.7%
5+ 1112
+9.1%

Summary: The Kankakee Township 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 2024Jun 2024CHANGE
4525-44.4%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Kankakee Township, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in Kankakee Township 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 Township, IL

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

Average Sale Time

Jun 2023Jun 2024CHANGE
26 Days34 Days+31.8%

Summary: Homes in Kankakee Township 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

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 June 2024, 25 homes were sold in Kankakee Township; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 19 Days Ago

Newest Listings in Kankakee Township, IL

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