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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pontiac Township is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Pontiac Township, IL

How much do homes in Pontiac Township, IL cost?

Median Sold Price

$130,000

$83/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$15,000(+13.0%)

Key Takeaway

Homes in Pontiac Township have sold for 13% more than they did a year ago.

Summary: The median home sold price in Pontiac Township was $130,000 in March 2024, up 13% from last year, and the median price per square foot was $83.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $45K$51.9K
+15.4%
2 $85K$84K
-1.2%
3 $130K$139.5K
+7.3%
4 $169K$221.5K
+31.1%
5+ $215K$192.5K
-10.5%

Summary: Pontiac Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.4%, 2 bedroom homes decreased by 1.2%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 31.1%, and 5+ bedroom homes decreased by 10.5%.

Median Sold Price Compared To Nearby Cities

Pontiac
+13.1%
Pontiac Township
+13.0%

Housing Supply in Pontiac Township, IL

How many homes are available in Pontiac Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
3632-11.1%

Summary: The Pontiac Township real estate market had 32 homes for sale in March 2024, a 11.1% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 10
-100.0%
2 68
+33.3%
3 1614
-12.5%
4 97
-22.2%
5+ 43
-25.0%

Summary: The Pontiac Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
911+22.2%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pontiac Township, you may be able to get a good deal. 81.8% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Pontiac Township in March 2024, up by 22.2% month-over-month. Of the 11 sold homes, 82% were sold under asking, 9% were sold at asking, and 9% were sold over asking.

Days on Market for Pontiac Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
18 Days36 Days+98.5%

Summary: Homes in Pontiac Township had an average of 36 days on market in Mar 2024, up by 98.5% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 11 homes were sold in Pontiac Township; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% 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 23 Days Ago

Newest Listings in Pontiac Township, IL

Nearby Markets to Pontiac Township, IL

What housing markets are near Pontiac Township, IL?