Is Monee Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monee Township is a neutral's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Monee Township was a Seller's Market.

Key Takeaway

Monee Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Monee Township, IL

How much do homes in Monee Township, IL cost?

Median Sold Price

$203,333

$115/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$21,641(-9.6%)

Key Takeaway

Homes in Monee Township have sold for 9.6% less than they did a year ago.

Summary: The median home sold price in Monee Township was $203,333 in March 2024, down 9.6% from last year, and the median price per square foot was $115.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $55.5K-
N/A
2 $164.9K$131.4K
-20.3%
3 $210K$175K
-16.7%
4 $290K$279.9K
-3.5%
5+ $268K$321.4K
+20.0%

Summary: Monee Township 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 20.3%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes increased by 20%.

Median Sold Price Compared To Nearby Cities

Richton Park
+11.4%
Monee
+1.4%
Park Forest
0.0%
University Park
-0.8%
Monee Township
-9.6%

Housing Supply in Monee Township, IL

How many homes are available in Monee Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
8287+6.1%

Summary: The Monee Township real estate market had 87 homes for sale in March 2024, a 6.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 01
+100.0%
2 911
+22.2%
3 4040
0.0%
4 2932
+10.3%
5+ 43
-25.0%

Summary: The Monee Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 22.2%, 3 bedroom homes remained the same, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1913-31.6%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monee Township, you may be able to get a good deal. 69.2% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Monee Township in March 2024, down by 31.6% month-over-month. Of the 13 sold homes, 69% were sold under asking, 31% were sold at asking, and 0% were sold over asking.

Days on Market for Monee Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
37 Days32 Days-14.7%

Summary: Homes in Monee Township had an average of 32 days on market in Mar 2024, down by 14.7% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 13 homes were sold in Monee Township; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% 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 24 Days Ago

Newest Listings in Monee Township, IL

Nearby Markets to Monee Township, IL

What housing markets are near Monee Township, IL?