Is Mahomet, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Mahomet has remained a Seller's Market.
Housing Prices in Mahomet, IL
How much do homes in Mahomet, IL cost?
Median Sold Price
$362,500
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Mahomet was $362,500 in March 2024, up 9.8% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $257.5K | $327.4K | +27.2% |
3 Bedrooms | $300K | $286.5K | -4.5% |
4 Bedrooms | $352.4K | $430K | +22.0% |
5+ Bedrooms | $540K | $409.5K | -24.2% |
Summary: Mahomet housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27.2%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes increased by 22%, and 5+ bedroom homes decreased by 24.2%.
Median Sold Price Compared To Nearby Cities
Hensley Township | $87K | $104K | +19.5% |
Mahomet Township | $330K | $365K | +10.6% |
Mahomet | $330K | $362.5K | +9.8% |
Housing Supply in Mahomet, IL
How many homes are available in Mahomet, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
65 | 69 | +6.2% |
Summary: The Mahomet real estate market had 69 homes for sale in March 2024, a 6.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 5 | +66.7% |
3 Bedrooms | 30 | 28 | -6.7% |
4 Bedrooms | 28 | 33 | +17.9% |
5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Mahomet housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 19 | +111.1% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Mahomet in March 2024, up by 111.1% month-over-month. Of the 19 sold homes, 53% were sold under asking, 21% were sold at asking, and 26% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
28 Days | 76 Days | +165.5% |
Summary: Homes in Mahomet had an average of 76 days on market in Mar 2024, up by 165.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 19 homes were sold in Mahomet; 53% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.