Is Pontiac, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pontiac is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Pontiac, IL

How much do homes in Pontiac, IL cost?

Median Sold Price

$134,750

$83/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$19,750(+17.2%)

Key Takeaway

Homes in Pontiac have sold for 17.2% more than they did a year ago.

Summary: The median home sold price in Pontiac was $134,750 in April 2024, up 17.2% from last year, and the median price per square foot was $83.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $45K$51.9K
+15.4%
2 $90.5K$82K
-9.4%
3 $124.3K$139.9K
+12.5%
4 $175K$221.2K
+26.4%
5+ $225K$178.7K
-20.6%

Summary: Pontiac housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.4%, 2 bedroom homes decreased by 9.4%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 26.4%, and 5+ bedroom homes decreased by 20.6%.

Median Sold Price Compared To Nearby Cities

Pontiac
+17.2%
Pontiac Township
+13.7%

Housing Supply in Pontiac, IL

How many homes are available in Pontiac, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3330-9.1%

Summary: The Pontiac real estate market had 30 homes for sale in April 2024, a 9.1% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 87
-12.5%
3 1514
-6.7%
4 76
-14.3%
5+ 33
0.0%

Summary: The Pontiac 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 decreased by 12.5%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
129-25.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pontiac, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Pontiac in April 2024, down by 25.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.

Days on Market for Pontiac, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
24 Days53 Days+116.9%

Summary: Homes in Pontiac had an average of 53 days on market in Apr 2024, up by 116.9% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 9 homes were sold in Pontiac; 56% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 33% 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 Pontiac, IL

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