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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mahomet Township is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Mahomet Township, IL

How much do homes in Mahomet Township, IL cost?

Median Sold Price

$384,500

$184/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$22,500(+6.2%)

Key Takeaway

Homes in Mahomet Township have sold for 6.2% more than they did a year ago.

Summary: The median home sold price in Mahomet Township was $384,500 in September 2024, up 6.2% from last year, and the median price per square foot was $184.

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 $422.9K$447.4K
+5.8%
5+ $475K$350K
-26.3%

Summary: Mahomet Township 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 5.8%, and 5+ bedroom homes decreased by 26.3%.

Median Sold Price Compared To Nearby Cities

Mahomet
+7.0%
Mahomet Township
+6.2%

Housing Supply in Mahomet Township, IL

How many homes are available in Mahomet Township, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
6454-15.6%

Summary: The Mahomet Township real estate market had 54 homes for sale in September 2024, a 15.6% 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 2118
-14.3%
5+ 33
0.0%

Summary: The Mahomet Township 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 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1815-16.7%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mahomet Township, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Mahomet Township in September 2024, down by 16.7% month-over-month. Of the 15 sold homes, 53% were sold under asking, 20% were sold at asking, and 27% were sold over asking.

Days on Market for Mahomet Township, IL

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

Average Sale Time

Sep 2023Sep 2024CHANGE
15 Days38 Days+146.9%

Summary: Homes in Mahomet Township had an average of 38 days on market in Sep 2024, up by 146.9% compared to last year.

Breakdown of Home Sale Times

9 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 Township are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 15 homes were sold in Mahomet Township; 60% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 13% 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 Township, IL

Nearby Markets to Mahomet Township, IL

What housing markets are near Mahomet Township, IL?