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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mendota Township is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Mendota Township, IL

How much do homes in Mendota Township, IL cost?

Median Sold Price

$130,000

$86/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$9,800(+8.2%)

Key Takeaway

Homes in Mendota Township have sold for 8.2% more than they did a year ago.

Summary: The median home sold price in Mendota Township was $130,000 in March 2024, up 8.2% from last year, and the median price per square foot was $86.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $92.5K$75K
-18.9%
3 $143K$149.9K
+4.8%
4 $99.7K$130K
+30.3%
5+ $92.1K$189.5K
+105.7%

Summary: Mendota 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 decreased by 18.9%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 30.3%, and 5+ bedroom homes increased by 105.7%.

Median Sold Price Compared To Nearby Cities

Mendota
+9.7%
Mendota Township
+8.2%

Housing Supply in Mendota Township, IL

How many homes are available in Mendota Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1820+11.1%

Summary: The Mendota Township real estate market had 20 homes for sale in March 2024, a 11.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 22
0.0%
3 1211
-8.3%
4 34
+33.3%
5+ 13
+200.0%

Summary: The Mendota 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 decreased by 8.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 200%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
36+100.0%

Asking Price vs. Sold Price

5 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 Township, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Mendota Township in March 2024, up by 100.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 0% were sold at asking, and 17% were sold over asking.

Days on Market for Mendota Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
50 Days40 Days-19.3%

Summary: Homes in Mendota Township had an average of 40 days on market in Mar 2024, down by 19.3% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 6 homes were sold in Mendota Township; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% 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 Mendota Township, IL

Nearby Markets to Mendota Township, IL