Is Melrose Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Melrose Township has remained a Seller's Market.
Key Takeaway
Melrose Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Melrose Township, IL
How much do homes in Melrose Township, IL cost?
Median Sold Price
$256,700
$111/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Melrose Township have sold for 39.7% less than they did a month ago.
Summary: The median home sold price in Melrose Township was $256,700 in April 2024, down 39.7% from last month, and the median price per square foot was $111.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | - | $224.9K | N/A |
| 4 Bedrooms | $426K | $288.5K | -32.3% |
| 5+ Bedrooms | - | - | N/A |
Summary: Melrose Township housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 32.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Quincy Township | $137.5K | $150K | +9.1% |
| Quincy | $137.5K | $150K | +9.1% |
| Melrose Township | $426K | $256.7K | -39.7% |
Housing Supply in Melrose Township, IL
How many homes are available in Melrose Township, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Summary: The Melrose Township real estate market had 8 homes for sale in April 2024, a 100.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 2 | 5 | +150.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Melrose Township housing inventory by bedroom type for April 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 150%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Melrose Township, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Melrose Township in April 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Melrose Township, IL
How long does it take to sell a home in Melrose Township, IL?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 Days | 0 Days | -83.3% |
Summary: Homes in Melrose Township had an average of 0 days on market in Apr 2024, down by 83.3% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Melrose Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Melrose Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.