Is Mendota, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mendota is a neutral's market

Buyer's
Market

Difference Since February 2023

Since last year, Mendota has remained a Neutral Market.

Key Takeaway

Mendota is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Mendota, IL

How much do homes in Mendota, IL cost?

Median Sold Price

$118,700

$84/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$7,300(-5.8%)

Key Takeaway

Homes in Mendota have sold for 5.8% less than they did a year ago.

Summary: The median home sold price in Mendota was $118,700 in February 2024, down 5.8% from last year, and the median price per square foot was $84.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $92.5K$85K
-8.1%
3 $144K$135K
-6.3%
4 $97.5K$124.9K
+28.1%
5+ $92.1K$189.5K
+105.7%

Summary: Mendota 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 decreased by 8.1%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 28.1%, and 5+ bedroom homes increased by 105.7%.

Median Sold Price Compared To Nearby Cities

Mendota
-5.8%
Mendota Township
-6.9%

Housing Supply in Mendota, IL

How many homes are available in Mendota, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1821+16.7%

Summary: The Mendota real estate market had 21 homes for sale in February 2024, a 16.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 12
+100.0%
3 1113
+18.2%
4 54
-20.0%
5+ 01
+100.0%

Summary: The Mendota 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 100%, 3 bedroom homes increased by 18.2%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
330.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mendota, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Mendota in February 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for Mendota, IL

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

Average Sale Time

Feb 2023Feb 2024CHANGE
100 Days11 Days-89.1%

Summary: Homes in Mendota had an average of 11 days on market in Feb 2024, down by 89.1% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 3 homes were sold in Mendota; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Mendota, IL

Nearby Markets to Mendota, IL