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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Polk Township is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Polk Township was a Seller's Market.

Key Takeaway

Polk Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Polk Township, IL

How much do homes in Polk Township, IL cost?

Median Sold Price

$561,912

$204/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$303,912(+117.8%)

Key Takeaway

Homes in Polk Township have sold for 117.8% more than they did a year ago.

Summary: The median home sold price in Polk Township was $561,912 in October 2024, up 117.8% from last year, and the median price per square foot was $204.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $284K$241K
-15.1%
3 $225.5K$360K
+59.6%
4 $412.5K$595.5K
+44.4%
5+ -$617.4K
N/A

Summary: Polk Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 15.1%, 3 bedroom homes increased by 59.6%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes did not change.

Housing Supply in Polk Township, IL

How many homes are available in Polk Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
78+14.3%

Summary: The Polk Township real estate market had 8 homes for sale in October 2024, a 14.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 11
0.0%
3 33
0.0%
4 34
+33.3%
5+ 00
0.0%

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

Number of Homes Sold

Sep 2024Oct 2024CHANGE
01+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Polk Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Polk Township in October 2024, up by 100.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Polk Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
4 Days38 Days+744.4%

Summary: Homes in Polk Township had an average of 38 days on market in Oct 2024, up by 744.4% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Polk Township has remained consistent over time.

Summary: During October 2024, 1 homes were sold in Polk Township; 0% of homes were sold within 30 days, 100% 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 9 Days Ago

Newest Listings in Polk Township, IL

Nearby Markets to Polk Township, IL