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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mokena is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Mokena, IL

How much do homes in Mokena, IL cost?

Median Sold Price

$385,000

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$4,166(+1.1%)

Key Takeaway

Homes in Mokena have sold for 1.1% more than they did a year ago.

Summary: The median home sold price in Mokena was $385,000 in September 2024, up 1.1% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $110K$130K
+18.2%
2 $265K$295K
+11.3%
3 $325K$357.5K
+10.0%
4 $525.7K$525K
-0.1%
5+ $610K$721K
+18.2%

Summary: Mokena housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 11.3%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 18.2%.

Median Sold Price Compared To Nearby Cities

Frankfort Township
+10.2%
Tinley Park
+7.9%
New Lenox Township
+6.0%
Frankfort
+3.7%
Mokena
+1.1%

Housing Supply in Mokena, IL

How many homes are available in Mokena, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
85100+17.6%

Summary: The Mokena real estate market had 100 homes for sale in September 2024, a 17.6% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 22
0.0%
2 2121
0.0%
3 2628
+7.7%
4 2233
+50.0%
5+ 1416
+14.3%

Summary: The Mokena 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 remained the same, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1527+80.0%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mokena, you may be able to get a good deal. 70.4% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in Mokena in September 2024, up by 80.0% month-over-month. Of the 27 sold homes, 70% were sold under asking, 11% were sold at asking, and 19% were sold over asking.

Days on Market for Mokena, IL

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

Average Sale Time

Sep 2023Sep 2024CHANGE
22 Days20 Days-6.4%

Summary: Homes in Mokena had an average of 20 days on market in Sep 2024, down by 6.4% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 27 homes were sold in Mokena; 78% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 4% 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 30 Days Ago

Newest Listings in Mokena, IL

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