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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Medina Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Medina Township, IL

How much do homes in Medina Township, IL cost?

Median Sold Price

$322,050

$117/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$7,050(+2.2%)

Key Takeaway

Homes in Medina Township have sold for 2.2% more than they did a year ago.

Summary: The median home sold price in Medina Township was $322,050 in October 2024, up 2.2% from last year, and the median price per square foot was $117.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$40K
N/A
2 $155.5K$131K
-15.8%
3 $224.5K$265K
+18.0%
4 $320K$342.5K
+7.0%
5+ $427.2K$415K
-2.9%

Summary: Medina Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 15.8%, 3 bedroom homes increased by 18%, 4 bedroom homes increased by 7%, and 5+ bedroom homes decreased by 2.9%.

Median Sold Price Compared To Nearby Cities

Spring Bay Township
+28.7%
Peoria
+4.7%
Medina Township
+2.2%
Peoria Heights
-2.5%

Housing Supply in Medina Township, IL

How many homes are available in Medina Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5545-18.2%

Summary: The Medina Township real estate market had 45 homes for sale in October 2024, a 18.2% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 24
+100.0%
3 2520
-20.0%
4 1512
-20.0%
5+ 139
-30.8%

Summary: The Medina Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 30.8%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1719+11.8%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Medina Township, you may be able to get a good deal. 57.9% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in Medina Township in October 2024, up by 11.8% month-over-month. Of the 19 sold homes, 58% were sold under asking, 11% were sold at asking, and 32% were sold over asking.

Days on Market for Medina Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
17 Days17 Days+2.4%

Summary: Homes in Medina Township had an average of 17 days on market in Oct 2024, up by 2.4% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 19 homes were sold in Medina Township; 74% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 0% 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 6 Days Ago

Newest Listings in Medina Township, IL

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