Is O'Fallon Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, O'Fallon Township has remained a Seller's Market.
Housing Prices in O'Fallon Township, IL
How much do homes in O'Fallon Township, IL cost?
Median Sold Price
$295,400
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in O'Fallon Township was $295,400 in April 2024, up 0.1% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $67.2K | $92K | +36.8% |
2 Bedrooms | $129.9K | $135K | +3.9% |
3 Bedrooms | $215K | $245K | +14.0% |
4 Bedrooms | $316.3K | $340K | +7.5% |
5+ Bedrooms | $435K | $454.4K | +4.5% |
Summary: O'Fallon Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.8%, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Cities
Lebanon | $180K | $234K | +30.0% |
Jarvis Township | $270K | $317K | +17.4% |
O Fallon | $299.9K | $315.4K | +5.2% |
O'Fallon | $296.7K | $310.2K | +4.5% |
O'Fallon Township | $295K | $295.4K | 0.1% |
Housing Supply in O'Fallon Township, IL
How many homes are available in O'Fallon Township, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
105 | 123 | +17.1% |
Summary: The O'Fallon Township real estate market had 123 homes for sale in April 2024, a 17.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 13 | 12 | -7.7% |
3 Bedrooms | 38 | 45 | +18.4% |
4 Bedrooms | 42 | 47 | +11.9% |
5+ Bedrooms | 11 | 19 | +72.7% |
Summary: The O'Fallon Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 18.4%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes increased by 72.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
40 | 33 | -17.5% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in O'Fallon Township in April 2024, down by 17.5% month-over-month. Of the 33 sold homes, 33% were sold under asking, 15% were sold at asking, and 52% were sold over asking.
Days on Market for O'Fallon Township, IL
How long does it take to sell a home in O'Fallon Township, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
35 Days | 39 Days | +10.0% |
Summary: Homes in O'Fallon Township had an average of 39 days on market in Apr 2024, up by 10% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 33 homes were sold in O'Fallon Township; 45% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.