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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Peotone Township is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Peotone Township, IL

How much do homes in Peotone Township, IL cost?

Median Sold Price

$347,900

$160/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$67,900(+24.3%)

Key Takeaway

Homes in Peotone Township have sold for 24.3% more than they did a year ago.

Summary: The median home sold price in Peotone Township was $347,900 in September 2024, up 24.3% from last year, and the median price per square foot was $160.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $195K$246.7K
+26.5%
3 $300K$359.9K
+20.0%
4 $284.9K$365K
+28.1%
5+ $305K$630.2K
+106.6%

Summary: Peotone Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 26.5%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 28.1%, and 5+ bedroom homes increased by 106.6%.

Median Sold Price Compared To Nearby Cities

Peotone Township
+24.3%
Peotone
+24.3%
Monee Township
+11.8%
Will Township
+7.1%
Green Garden Township
+6.6%

Housing Supply in Peotone Township, IL

How many homes are available in Peotone Township, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
21210.0%

Summary: The Peotone Township real estate market had 21 homes for sale in September 2024, the same as August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 11
0.0%
3 1013
+30.0%
4 84
-50.0%
5+ 23
+50.0%

Summary: The Peotone Township housing inventory by bedroom type for September 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 30%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
770.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Peotone Township, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Peotone Township in September 2024, the same as the previous month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.

Days on Market for Peotone Township, IL

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

Average Sale Time

Sep 2023Sep 2024CHANGE
37 Days23 Days-36.3%

Summary: Homes in Peotone Township had an average of 23 days on market in Sep 2024, down by 36.3% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 7 homes were sold in Peotone Township; 71% of homes were sold within 30 days, 29% 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 30 Days Ago

Newest Listings in Peotone Township, IL

Nearby Markets to Peotone Township, IL

What housing markets are near Peotone Township, IL?