Is Milan Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Milan Township was a Buyer's Market.
Housing Prices in Milan Township, IL
How much do homes in Milan Township, IL cost?
Median Sold Price
$241,000
$96/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Summary: The median home sold price in Milan Township was $241,000 in March 2024, up 51.6% from last month, and the median price per square foot was $96.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | - | N/A |
3 Bedrooms | $159K | $229.5K | +44.3% |
4 Bedrooms | - | $270K | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Milan Township housing prices by bedroom type for March 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 increased by 44.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Milan Township, IL
How many homes are available in Milan Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20 | 24 | +20.0% |
Summary: The Milan Township real estate market had 24 homes for sale in March 2024, a 20.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 3 | 3 | 0.0% |
3 Bedrooms | 12 | 13 | +8.3% |
4 Bedrooms | 5 | 7 | +40.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Milan Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 9 | +350.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Milan Township in March 2024, up by 350.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 11% were sold at asking, and 67% were sold over asking.
Days on Market for Milan Township, IL
How long does it take to sell a home in Milan Township, IL?
Average Sale Time
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
18 Days | 15 Days | -15.3% |
Summary: Homes in Milan Township had an average of 15 days on market in Mar 2024, down by 15.3% compared to last month.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 9 homes were sold in Milan Township; 89% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.