Is Marengo Township, 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, Marengo Township has remained a Seller's Market.
Housing Prices in Marengo Township, IL
How much do homes in Marengo Township, IL cost?
Median Sold Price
$320,000
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Marengo Township was $320,000 in March 2024, up 33.1% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $190.2K | N/A |
2 Bedrooms | $163.5K | $221.9K | +35.7% |
3 Bedrooms | $247.5K | $301.2K | +21.7% |
4 Bedrooms | $250K | $362.5K | +45.0% |
5+ Bedrooms | $290K | $373K | +28.6% |
Summary: Marengo Township 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 35.7%, 3 bedroom homes increased by 21.7%, 4 bedroom homes increased by 45%, and 5+ bedroom homes increased by 28.6%.
Median Sold Price Compared To Nearby Cities
Marengo Township | $240.4K | $320K | +33.1% |
Marengo | $241K | $320K | +32.8% |
Dunham Township | $218.7K | $259.9K | +18.8% |
Seneca Township | $382.5K | $357.5K | -6.5% |
Hartland Township | $422.4K | $249.9K | -40.8% |
Housing Supply in Marengo Township, IL
How many homes are available in Marengo Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
41 | 45 | +9.8% |
Summary: The Marengo Township real estate market had 45 homes for sale in March 2024, a 9.8% 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 | 6 | 6 | 0.0% |
3 Bedrooms | 17 | 18 | +5.9% |
4 Bedrooms | 15 | 17 | +13.3% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Marengo Township 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 remained the same, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 12 | +50.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Marengo Township in March 2024, up by 50.0% month-over-month. Of the 12 sold homes, 42% were sold under asking, 17% were sold at asking, and 42% were sold over asking.
Days on Market for Marengo Township, IL
How long does it take to sell a home in Marengo Township, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
14 Days | 28 Days | +98.8% |
Summary: Homes in Marengo Township had an average of 28 days on market in Mar 2024, up by 98.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 12 homes were sold in Marengo Township; 58% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.