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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Marion Township is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Marion Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Marion Township, IL

How much do homes in Marion Township, IL cost?

Median Sold Price

$197,500

$112/sqft

Based on all homes sold in March 2024.

Difference Since Last Month

+$22,250(+12.7%)

Key Takeaway

Homes in Marion Township have sold for 12.7% more than they did a month ago.

Summary: The median home sold price in Marion Township was $197,500 in March 2024, up 12.7% from last month, and the median price per square foot was $112.

Median Sold Price By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 $132K-
N/A
2 $98K$88.8K
-9.4%
3 $175.5K$199.9K
+13.9%
4 $240K$324K
+35.0%
5+ $750K-
N/A

Summary: Marion Township housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.4%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 35%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Amboy
+102.1%
Amboy Township
+102.1%
Marion Township
+12.7%

Housing Supply in Marion Township, IL

How many homes are available in Marion Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
118114-3.4%

Summary: The Marion Township real estate market had 114 homes for sale in March 2024, a 3.4% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 21
-50.0%
2 2019
-5.0%
3 6561
-6.2%
4 2526
+4.0%
5+ 67
+16.7%

Summary: The Marion Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 5%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2623-11.5%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Marion Township, you may be able to get a good deal. 47.8% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in Marion Township in March 2024, down by 11.5% month-over-month. Of the 23 sold homes, 48% were sold under asking, 17% were sold at asking, and 35% were sold over asking.

Days on Market for Marion Township, IL

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

Average Sale Time

Feb 2024Mar 2024CHANGE
41 Days24 Days-39.9%

Summary: Homes in Marion Township had an average of 24 days on market in Mar 2024, down by 39.9% compared to last month.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 23 homes were sold in Marion Township; 83% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% 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 17 Days Ago

Newest Listings in Marion Township, IL

Nearby Markets to Marion Township, IL