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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Posen is a seller's market

Buyer's
Market

Difference Since August 2022

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

Key Takeaway

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

Housing Prices

How much do homes in Posen, IL cost?

Median Sold Price

$182,500

$141/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2022

+$6,500(+3.7%)

Key Takeaway

Homes in Posen have sold for 3.7% more than they did a year ago.

Summary: The median home sold price in Posen was $182,500 in August 2023, up 3.7% from last year, and the median price per square foot was $141.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 --
N/A
2 $70K-
N/A
3 $168.9K$170K
+0.7%
4 $210K$249.4K
+18.8%
5+ $235K$275K
+17.0%

Summary: Posen housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 17%.

Median Sold Price Compared To Nearby Cities

Harvey
+9.5%
Posen
+3.7%
Blue Island
-5.0%
Markham
-7.6%

Housing Supply

How many homes are available in Posen, IL?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE
1716-5.9%

Summary: The Posen real estate market had 16 homes for sale in August 2023, a 5.9% decrease compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 00
0.0%
2 22
0.0%
3 1010
0.0%
4 33
0.0%
5+ 21
-50.0%

Summary: The Posen housing inventory by bedroom type for August 2023 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 remained the same, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE
54-20.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Posen, you could pay more than the asking price. 75% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in Posen in August 2023, down by 20.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.

Days on Market

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

Average Sale Time

Aug 2022Aug 2023CHANGE
34 Days15 Days-54.7%

Summary: Homes in Posen had an average of 15 days on market in Aug 2023, down by 54.7% compared to last year.

Breakdown of Home Sale Times

3 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

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

Summary: During August 2023, 4 homes were sold in Posen; 75% of homes were sold within 30 days, 25% 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 25 Days Ago

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Nearby Markets

What housing markets are near Posen, IL?