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 Seller's Market.
Housing Prices in Milan Township, IL
How much do homes in Milan Township, IL cost?
Median Sold Price
$159,000
$123/sqft
Based on all homes sold in February 2024.
Difference Since Last Month
Summary: The median home sold price in Milan Township was $159,000 in February 2024, down 18.5% from last month, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $122.5K | - | N/A |
3 Bedrooms | $272.5K | $159K | -41.7% |
4 Bedrooms | - | - | N/A |
5+ Bedrooms | $346.8K | - | N/A |
Summary: Milan Township housing prices by bedroom type for February 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 decreased by 41.7%, 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
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
11 | 18 | +63.6% |
Summary: The Milan Township real estate market had 18 homes for sale in February 2024, a 63.6% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 6 | 11 | +83.3% |
4 Bedrooms | 2 | 4 | +100.0% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Milan Township 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 50%, 3 bedroom homes increased by 83.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Milan Township in February 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% 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
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
21 Days | 18 Days | -15.1% |
Summary: Homes in Milan Township had an average of 18 days on market in Feb 2024, down by 15.1% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 2 homes were sold in Milan Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.