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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Momence is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Momence, IL

How much do homes in Momence, IL cost?

Median Sold Price

$169,950

$124/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$15,550(+10.1%)

Key Takeaway

Homes in Momence have sold for 10.1% more than they did a year ago.

Summary: The median home sold price in Momence was $169,950 in May 2024, up 10.1% from last year, and the median price per square foot was $124.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $68K$69.5K
+2.2%
2 $142.5K$147K
+3.2%
3 $157.9K$175K
+10.8%
4 $135K$236K
+74.8%
5+ $170K-
N/A

Summary: Momence housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.2%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 74.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Momence Township
+18.8%
Ganeer Township
+18.6%
Momence
+10.1%

Housing Supply in Momence, IL

How many homes are available in Momence, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1922+15.8%

Summary: The Momence real estate market had 22 homes for sale in May 2024, a 15.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 01
+100.0%
2 54
-20.0%
3 1113
+18.2%
4 34
+33.3%
5+ 00
0.0%

Summary: The Momence housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
59+80.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Momence, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Momence in May 2024, up by 80.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 33% were sold at asking, and 11% were sold over asking.

Days on Market for Momence, IL

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

Average Sale Time

May 2023May 2024CHANGE
11 Days53 Days+360.0%

Summary: Homes in Momence had an average of 53 days on market in May 2024, up by 360% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 9 homes were sold in Momence; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% 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 16 Days Ago

Newest Listings in Momence, IL

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