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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Newport Township is a buyer's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

Newport Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Newport Township, IL

How much do homes in Newport Township, IL cost?

Median Sold Price

$350,000

$153/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$12,065(+3.6%)

Key Takeaway

Homes in Newport Township have sold for 3.6% more than they did a year ago.

Summary: The median home sold price in Newport Township was $350,000 in March 2024, up 3.6% from last year, and the median price per square foot was $153.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $212.5K$214.4K
+0.9%
3 $328.6K$307K
-6.6%
4 $348K$502.5K
+44.4%
5+ $600.4K$502.5K
-16.3%

Summary: Newport 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 increased by 0.9%, 3 bedroom homes decreased by 6.6%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes decreased by 16.3%.

Median Sold Price Compared To Nearby Cities

Zion Township
+19.1%
Wadsworth
+5.7%
Newport Township
+3.6%
Beach Park
0.2%

Housing Supply in Newport Township, IL

How many homes are available in Newport Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2223+4.5%

Summary: The Newport Township real estate market had 23 homes for sale in March 2024, a 4.5% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 98
-11.1%
4 98
-11.1%
5+ 35
+66.7%

Summary: The Newport 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 increased by 100%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
63-50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Newport 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 Newport Township in March 2024, down by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for Newport Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
40 Days12 Days-68.5%

Summary: Homes in Newport Township had an average of 12 days on market in Mar 2024, down by 68.5% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 3 homes were sold in Newport Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 23 Days Ago

Newest Listings in Newport Township, IL

Nearby Markets to Newport Township, IL

What housing markets are near Newport Township, IL?