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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rantoul is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Rantoul, IL

How much do homes in Rantoul, IL cost?

Median Sold Price

$127,000

$97/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$9,000(+7.6%)

Key Takeaway

Homes in Rantoul have sold for 7.6% more than they did a year ago.

Summary: The median home sold price in Rantoul was $127,000 in September 2024, up 7.6% from last year, and the median price per square foot was $97.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $65K-
N/A
2 $82.9K$98.5K
+18.7%
3 $121K$136.5K
+12.8%
4 $159K$130K
-18.2%
5+ $173K$159.9K
-7.6%

Summary: Rantoul housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.7%, 3 bedroom homes increased by 12.8%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes decreased by 7.6%.

Median Sold Price Compared To Nearby Cities

Ludlow Township
+22.8%
Rantoul
+7.6%
Rantoul Township
+1.8%

Housing Supply in Rantoul, IL

How many homes are available in Rantoul, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
3230-6.3%

Summary: The Rantoul real estate market had 30 homes for sale in September 2024, a 6.3% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 66
0.0%
3 2219
-13.6%
4 35
+66.7%
5+ 10
-100.0%

Summary: The Rantoul housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 13.6%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1312-7.7%

Asking Price vs. Sold Price

7 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 Rantoul, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Rantoul in September 2024, down by 7.7% month-over-month. Of the 12 sold homes, 58% were sold under asking, 17% were sold at asking, and 25% were sold over asking.

Days on Market for Rantoul, IL

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

Average Sale Time

Sep 2023Sep 2024CHANGE
55 Days35 Days-36.1%

Summary: Homes in Rantoul had an average of 35 days on market in Sep 2024, down by 36.1% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

8 Homes Were 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 Rantoul has remained consistent over time.

Summary: During September 2024, 12 homes were sold in Rantoul; 33% of homes were sold within 30 days, 67% 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 5 Days Ago

Newest Listings in Rantoul, IL

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