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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mahomet is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Mahomet, IL

How much do homes in Mahomet, IL cost?

Median Sold Price

$380,000

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$25,000(+7.0%)

Key Takeaway

Homes in Mahomet have sold for 7% more than they did a year ago.

Summary: The median home sold price in Mahomet was $380,000 in September 2024, up 7% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 -$370K
N/A
2 $299.9K$321.5K
+7.2%
3 $290.9K$302.5K
+4.0%
4 $425K$447.4K
+5.3%
5+ $450K$350K
-22.2%

Summary: Mahomet housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.2%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 22.2%.

Median Sold Price Compared To Nearby Cities

Mahomet
+7.0%
Mahomet Township
+6.2%

Housing Supply in Mahomet, IL

How many homes are available in Mahomet, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
6353-15.9%

Summary: The Mahomet real estate market had 53 homes for sale in September 2024, a 15.9% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 22
0.0%
2 41
-75.0%
3 3430
-11.8%
4 2017
-15.0%
5+ 33
0.0%

Summary: The Mahomet housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 75%, 3 bedroom homes decreased by 11.8%, 4 bedroom homes decreased by 15%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1814-22.2%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mahomet, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Mahomet in September 2024, down by 22.2% month-over-month. Of the 14 sold homes, 57% were sold under asking, 21% were sold at asking, and 21% were sold over asking.

Days on Market for Mahomet, IL

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

Average Sale Time

Sep 2023Sep 2024CHANGE
15 Days40 Days+160.4%

Summary: Homes in Mahomet had an average of 40 days on market in Sep 2024, up by 160.4% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 14 homes were sold in Mahomet; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% 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 5 Days Ago

Newest Listings in Mahomet, IL

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