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 March 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

$362,500

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$32,500(+9.8%)

Key Takeaway

Homes in Mahomet have sold for 9.8% more than they did a year ago.

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

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $257.5K$327.4K
+27.2%
3 $300K$286.5K
-4.5%
4 $352.4K$430K
+22.0%
5+ $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
+19.5%
Mahomet Township
+10.6%
Mahomet
+9.8%

Housing Supply in Mahomet, IL

How many homes are available in Mahomet, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
6569+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

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 35
+66.7%
3 3028
-6.7%
4 2833
+17.9%
5+ 43
-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 2024Mar 2024CHANGE
919+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mahomet, you may be able to get a good deal. 52.6% of homes here sold below asking price last month.

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 2023Mar 2024CHANGE
28 Days76 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 26 Days Ago

Newest Listings in Mahomet, IL

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