Is Milford, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Milford is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Milford, IL

How much do homes in Milford, IL cost?

Median Sold Price

$99,500

$73/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$11,500(+13.1%)

Key Takeaway

Homes in Milford have sold for 13.1% more than they did a year ago.

Summary: The median home sold price in Milford was $99,500 in September 2024, up 13.1% from last year, and the median price per square foot was $73.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $53.2K-
N/A
2 $25K$83K
+232.0%
3 $107.5K$109K
+1.4%
4 $170.9K$139.9K
-18.1%
5+ $257K-
N/A

Summary: Milford housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 232%, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 18.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Milford
+13.1%
Milford Township
-7.4%

Housing Supply in Milford, IL

How many homes are available in Milford, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
75-28.6%

Summary: The Milford real estate market had 5 homes for sale in September 2024, a 28.6% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 43
-25.0%
4 22
0.0%
5+ 00
0.0%

Summary: The Milford housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
220.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Milford, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Milford in September 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Milford, IL

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

Average Sale Time

Sep 2023Sep 2024CHANGE
102 Days39 Days-61.6%

Summary: Homes in Milford had an average of 39 days on market in Sep 2024, down by 61.6% compared to last year.

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

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 2 homes were sold in Milford; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 15 Days Ago

Newest Listings in Milford, IL

Nearby Markets to Milford, IL