Is Loda, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Loda is a buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, Loda has remained a Buyer's Market.

Key Takeaway

Loda is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Loda, IL

How much do homes in Loda, IL cost?

Median Sold Price

$320,000

$142/sqft

Based on all homes sold in August 2024.

Difference Since Last Month

+$126,100(+65.0%)

Key Takeaway

Homes in Loda have sold for 65% more than they did a month ago.

Summary: The median home sold price in Loda was $320,000 in August 2024, up 65% from last month, and the median price per square foot was $142.

Median Sold Price By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 --
N/A
2 --
N/A
3 $193.9K$320K
+65.0%
4 --
N/A
5+ --
N/A

Summary: Loda housing prices by bedroom type for August 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 65%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Loda, IL

How many homes are available in Loda, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
2422-8.3%

Summary: The Loda real estate market had 22 homes for sale in August 2024, a 8.3% decrease compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 00
0.0%
2 44
0.0%
3 88
0.0%
4 119
-18.2%
5+ 11
0.0%

Summary: The Loda housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Loda, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Loda in August 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.

Days on Market for Loda, IL

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

Average Sale Time

Jul 2024Aug 2024CHANGE
4 Days207 Days+5075.0%

Summary: Homes in Loda had an average of 207 days on market in Aug 2024, up by 5075% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Loda are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During August 2024, 3 homes were sold in Loda; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% 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

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