Is Monmouth Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Monmouth Township was a Seller's Market.
Key Takeaway
Monmouth 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 Monmouth Township, IL
How much do homes in Monmouth Township, IL cost?
Median Sold Price
$85,000
$61/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Monmouth Township have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in Monmouth Township was $85,000 in March 2024, up 1.2% from last year, and the median price per square foot was $61.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $19.4K | $67.4K | +245.9% |
| 2 Bedrooms | $58.5K | $60K | +2.6% |
| 3 Bedrooms | $84K | $87.2K | +3.8% |
| 4 Bedrooms | $141K | $109K | -22.7% |
| 5+ Bedrooms | - | $339.9K | N/A |
Summary: Monmouth Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 245.9%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 22.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Spring Grove Township | $186K | $360K | +93.5% |
| Monmouth Township | $84K | $85K | +1.2% |
| Monmouth | $84K | $85K | +1.2% |
Housing Supply in Monmouth Township, IL
How many homes are available in Monmouth Township, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 19 | +11.8% |
Summary: The Monmouth Township real estate market had 19 homes for sale in March 2024, a 11.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Monmouth Township 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 remained the same, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monmouth Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Monmouth Township in March 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Monmouth Township, IL
How long does it take to sell a home in Monmouth Township, IL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 62 Days | 286 Days | +362.4% |
Summary: Homes in Monmouth Township had an average of 286 days on market in Mar 2024, up by 362.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Monmouth Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Monmouth Township; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.