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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Prince is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Prince has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Prince, IL

How much do homes in Prince, IL cost?

Median Sold Price

$375,000

$347/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

-$123,500(-24.8%)

Key Takeaway

Homes in Prince have sold for 24.8% less than they did a month ago.

Summary: The median home sold price in Prince was $375,000 in May 2024, down 24.8% from last month, and the median price per square foot was $347.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 $310K$352.5K
+13.7%
3 --
N/A
4 $687K$1.5M
+130.7%
5+ --
N/A

Summary: Prince housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.7%, 3 bedroom homes did not change, 4 bedroom homes increased by 130.7%, and 5+ bedroom homes did not change.

Housing Supply in Prince, IL

How many homes are available in Prince, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
76-14.3%

Summary: The Prince real estate market had 6 homes for sale in May 2024, a 14.3% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 01
+100.0%
4 43
-25.0%
5+ 00
0.0%

Summary: The Prince housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
23+50.0%

Asking Price vs. Sold Price

0 Homes Were 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 Prince, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in Prince in May 2024, up by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Prince, IL

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

Average Sale Time

Apr 2024May 2024CHANGE
19 Days29 Days+56.1%

Summary: Homes in Prince had an average of 29 days on market in May 2024, up by 56.1% compared to last month.

Breakdown of Home Sale Times

2 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 Prince are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 3 homes were sold in Prince; 67% of homes were sold within 30 days, 33% 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 2 Days Ago

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