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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Olio Township is a seller's market

Buyer's
Market

Difference Since August 2023

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

Key Takeaway

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

Housing Prices in Olio Township, IL

How much do homes in Olio Township, IL cost?

Median Sold Price

$190,000

$92/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$55,000(+40.7%)

Key Takeaway

Homes in Olio Township have sold for 40.7% more than they did a year ago.

Summary: The median home sold price in Olio Township was $190,000 in August 2024, up 40.7% from last year, and the median price per square foot was $92.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 -$58K
N/A
2 $127K$115K
-9.4%
3 $148.5K$200K
+34.7%
4 $139.7K$190.7K
+36.5%
5+ $135K$232.2K
+72.0%

Summary: Olio Township housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.4%, 3 bedroom homes increased by 34.7%, 4 bedroom homes increased by 36.5%, and 5+ bedroom homes increased by 72%.

Median Sold Price Compared To Nearby Cities

Olio Township
+40.7%
Palestine Township
+32.1%
Eureka
+25.8%
Montgomery Township
+2.2%

Housing Supply in Olio Township, IL

How many homes are available in Olio Township, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
770.0%

Summary: The Olio Township real estate market had 7 homes for sale in August 2024, the same as July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 00
0.0%
2 22
0.0%
3 32
-33.3%
4 22
0.0%
5+ 01
+100.0%

Summary: The Olio Township housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
220.0%

Asking Price vs. Sold Price

1 Home Was 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 Olio Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Olio Township in August 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for Olio Township, IL

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

Average Sale Time

Aug 2023Aug 2024CHANGE
23 Days5 Days-78.3%

Summary: Homes in Olio Township had an average of 5 days on market in Aug 2024, down by 78.3% compared to last year.

Breakdown of Home Sale Times

2 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 Olio Township are selling fast, if you're buying plan to act quickly.

Summary: During August 2024, 2 homes were sold in Olio 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 11 Days Ago

Newest Listings in Olio Township, IL

Nearby Markets to Olio Township, IL