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 March 2023

At the same time last year, Milford was a Neutral 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

$139,900

$71/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$94,400(+207.5%)

Key Takeaway

Homes in Milford have sold for 207.5% more than they did a year ago.

Summary: The median home sold price in Milford was $139,900 in March 2024, up 207.5% from last year, and the median price per square foot was $71.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$53.2K
N/A
2 $51.5K$42.5K
-17.5%
3 $91K$123.9K
+36.2%
4 $35.9K$202K
+461.9%
5+ -$257K
N/A

Summary: Milford housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 17.5%, 3 bedroom homes increased by 36.2%, 4 bedroom homes increased by 461.9%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Milford
+207.5%
Milford Township
+154.4%

Housing Supply in Milford, IL

How many homes are available in Milford, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
810+25.0%

Summary: The Milford real estate market had 10 homes for sale in March 2024, a 25.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 34
+33.3%
3 35
+66.7%
4 21
-50.0%
5+ 00
0.0%

Summary: The Milford housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 66.7%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
02+100.0%

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 March 2024, up by 100.0% month-over-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

Mar 2023Mar 2024CHANGE
115 Days100 Days-13.0%

Summary: Homes in Milford had an average of 100 days on market in Mar 2024, down by 13% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Milford has remained consistent over time.

Summary: During March 2024, 2 homes were sold in Milford; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% 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 23 Days Ago

Newest Listings in Milford, IL

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