Is Old Farm, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Old Farm is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Old Farm has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Old Farm, IL

How much do homes in Old Farm, IL cost?

Median Sold Price

$401,500

$239/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$10,000(-2.4%)

Key Takeaway

Homes in Old Farm have sold for 2.4% less than they did a year ago.

Summary: The median home sold price in Old Farm was $401,500 in April 2024, down 2.4% from last year, and the median price per square foot was $239.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $272.5K$333K
+22.2%
3 $380K$390.5K
+2.8%
4 $481K$531.9K
+10.6%
5+ --
N/A

Summary: Old Farm housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Coach Houses of Old Saw Mill
+19.0%
Old Farm
-2.4%

Housing Supply in Old Farm, IL

How many homes are available in Old Farm, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
11110.0%

Summary: The Old Farm real estate market had 11 homes for sale in April 2024, the same as March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 00
0.0%
3 57
+40.0%
4 64
-33.3%
5+ 00
0.0%

Summary: The Old Farm housing inventory by bedroom type for April 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 40%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
35+66.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Old Farm, you could pay more than the asking price. 80% of homes here sold above asking price last month.

Summary: A total of 5 homes were sold or pending in Old Farm in April 2024, up by 66.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.

Days on Market for Old Farm, IL

How long does it take to sell a home in Old Farm, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
7 Days8 Days+17.3%

Summary: Homes in Old Farm had an average of 8 days on market in Apr 2024, up by 17.3% compared to last year.

Breakdown of Home Sale Times

5 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 Old Farm are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 5 homes were sold in Old Farm; 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 4 Days Ago

Newest Listings in Old Farm, IL

Nearby Markets to Old Farm, IL