Is O'Fallon Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing O'Fallon Township is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

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

+$400(+0.1%)

Key Takeaway

The sold price of homes in O'Fallon Township has remained the same since last year.

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

# BEDSApr 2023Apr 2024CHANGE
1 $67.2K$92K
+36.8%
2 $129.9K$135K
+3.9%
3 $215K$245K
+14.0%
4 $316.3K$340K
+7.5%
5+ $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
+30.0%
Jarvis Township
+17.4%
O Fallon
+5.2%
O'Fallon
+4.5%
O'Fallon Township
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 2024Apr 2024CHANGE
105123+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

# BEDSMar 2024Apr 2024CHANGE
1 10
-100.0%
2 1312
-7.7%
3 3845
+18.4%
4 4247
+11.9%
5+ 1119
+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 2024Apr 2024CHANGE
4033-17.5%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in O'Fallon Township, you could pay more than the asking price. 51.5% of homes here sold above asking price last month.

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 2023Apr 2024CHANGE
35 Days39 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

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in O'Fallon Township has remained consistent over time.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 9 Days Ago

Newest Listings in O'Fallon Township, IL

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