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 seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Monee Township, IL

How much do homes in Monee Township, IL cost?

Median Sold Price

$209,500

$117/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$15,400(-6.8%)

Key Takeaway

Homes in Monee Township have sold for 6.8% less than they did a year ago.

Summary: The median home sold price in Monee Township was $209,500 in February 2024, down 6.8% from last year, and the median price per square foot was $117.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $55.5K-
N/A
2 $167.5K$175.4K
+4.7%
3 $216.2K$173K
-20.0%
4 $279K$282.5K
+1.3%
5+ $244K$342.4K
+40.3%

Summary: Monee Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.7%, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 40.3%.

Median Sold Price Compared To Nearby Cities

Richton Park
+13.1%
Monee
+9.2%
Park Forest
0.0%
University Park
-3.4%
Monee Township
-6.8%

Housing Supply in Monee Township, IL

How many homes are available in Monee Township, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7987+10.1%

Summary: The Monee Township real estate market had 87 homes for sale in February 2024, a 10.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 79
+28.6%
3 3740
+8.1%
4 3134
+9.7%
5+ 44
0.0%

Summary: The Monee Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1618+12.5%

Asking Price vs. Sold Price

10 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 Monee Township, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Monee Township in February 2024, up by 12.5% month-over-month. Of the 18 sold homes, 56% were sold under asking, 17% were sold at asking, and 28% 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

Feb 2023Feb 2024CHANGE
73 Days40 Days-44.9%

Summary: Homes in Monee Township had an average of 40 days on market in Feb 2024, down by 44.9% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were 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 February 2024, 18 homes were sold in Monee Township; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% 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 27 Days Ago

Newest Listings in Monee Township, IL

Nearby Markets to Monee Township, IL

What housing markets are near Monee Township, IL?