Is Mercer Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Mercer Township was a Seller's Market.
Key Takeaway
Mercer Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mercer Township, IL
How much do homes in Mercer Township, IL cost?
Median Sold Price
$117,075
$86/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Mercer Township have sold for 23.2% more than they did a year ago.
Summary: The median home sold price in Mercer Township was $117,075 in April 2024, up 23.2% from last year, and the median price per square foot was $86.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $84K | $31K | -63.1% |
| 2 Bedrooms | $72K | $80K | +11.1% |
| 3 Bedrooms | $97.5K | $119.7K | +22.9% |
| 4 Bedrooms | $192K | $175K | -8.9% |
| 5+ Bedrooms | - | $179.9K | N/A |
Summary: Mercer Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 63.1%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 22.9%, 4 bedroom homes decreased by 8.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Aledo | $100K | $124.7K | +24.8% |
| Mercer Township | $95K | $117K | +23.2% |
Housing Supply in Mercer Township, IL
How many homes are available in Mercer Township, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 9 | -25.0% |
Summary: The Mercer Township real estate market had 9 homes for sale in April 2024, a 25.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 4 | 2 | -50.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Mercer Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mercer Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Mercer Township in April 2024, down by 75.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Mercer Township, IL
How long does it take to sell a home in Mercer Township, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 62 Days | 11 Days | -82.4% |
Summary: Homes in Mercer Township had an average of 11 days on market in Apr 2024, down by 82.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mercer Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 1 homes were sold in Mercer 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.