Is Manhattan, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Manhattan has remained a Seller's Market.
Housing Prices in Manhattan, IL
How much do homes in Manhattan, IL cost?
Median Sold Price
$374,000
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Manhattan was $374,000 in February 2024, up 24.7% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | - | N/A |
2 Bedrooms | $224.7K | $239.9K | +6.7% |
3 Bedrooms | $269.9K | $300K | +11.1% |
4 Bedrooms | $395K | $430K | +8.9% |
5+ Bedrooms | $510K | $550K | +7.8% |
Summary: Manhattan housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 7.8%.
Median Sold Price Compared To Nearby Cities
Manhattan | $299.9K | $374K | +24.7% |
Manhattan Township | $311.6K | $375K | +20.3% |
Housing Supply in Manhattan, IL
How many homes are available in Manhattan, IL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
48 | 50 | +4.2% |
Summary: The Manhattan real estate market had 50 homes for sale in February 2024, a 4.2% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 10 | 14 | +40.0% |
3 Bedrooms | 13 | 11 | -15.4% |
4 Bedrooms | 20 | 19 | -5.0% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Manhattan housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes decreased by 5%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
11 | 12 | +9.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Manhattan in February 2024, up by 9.1% month-over-month. Of the 12 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Manhattan, IL
How long does it take to sell a home in Manhattan, IL?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
20 Days | 25 Days | +27.0% |
Summary: Homes in Manhattan had an average of 25 days on market in Feb 2024, up by 27% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During February 2024, 12 homes were sold in Manhattan; 75% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.