Is Michael John Terrace, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Michael John Terrace has remained a Seller's Market.
Key Takeaway
Michael John Terrace is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Michael John Terrace, IL
How much do homes in Michael John Terrace, IL cost?
Median Sold Price
$642,500
$368/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Michael John Terrace have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in Michael John Terrace was $642,500 in April 2024, up 10.8% from last year, and the median price per square foot was $368.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $417.5K | $749K | +79.4% |
| 3 Bedrooms | $490K | $575K | +17.3% |
| 4 Bedrooms | $720K | $842.5K | +17.0% |
| 5+ Bedrooms | - | - | N/A |
Summary: Michael John Terrace housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 79.4%, 3 bedroom homes increased by 17.3%, 4 bedroom homes increased by 17%, and 5+ bedroom homes did not change.
Housing Supply in Michael John Terrace, IL
How many homes are available in Michael John Terrace, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Summary: The Michael John Terrace real estate market had 2 homes for sale in April 2024, the same as 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 | 1 | 2 | +100.0% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Michael John Terrace 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 100%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Michael John Terrace, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Michael John Terrace in April 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Michael John Terrace, IL
How long does it take to sell a home in Michael John Terrace, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 8 Days | 3 Days | -62.5% |
Summary: Homes in Michael John Terrace had an average of 3 days on market in Apr 2024, down by 62.5% 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 Michael John Terrace are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 1 homes were sold in Michael John Terrace; 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.
