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 March 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

$129,900

$95/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$29,900(+29.9%)

Key Takeaway

Homes in Rantoul have sold for 29.9% more than they did a year ago.

Summary: The median home sold price in Rantoul was $129,900 in March 2024, up 29.9% from last year, and the median price per square foot was $95.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $65K-
N/A
2 $76K$105.5K
+38.8%
3 $103.7K$128.4K
+23.9%
4 $147K$143.2K
-2.6%
5+ $158.9K$174.5K
+9.8%

Summary: Rantoul housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 38.8%, 3 bedroom homes increased by 23.9%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 9.8%.

Median Sold Price Compared To Nearby Cities

Rantoul
+29.9%
Rantoul Township
+29.9%
Ludlow Township
+3.7%

Housing Supply in Rantoul, IL

How many homes are available in Rantoul, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1920+5.3%

Summary: The Rantoul real estate market had 20 homes for sale in March 2024, a 5.3% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 34
+33.3%
3 1213
+8.3%
4 31
-66.7%
5+ 12
+100.0%

Summary: The Rantoul housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
84-50.0%

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 Rantoul, 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 Rantoul in March 2024, down by 50.0% 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 for Rantoul, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
60 Days42 Days-30.1%

Summary: Homes in Rantoul had an average of 42 days on market in Mar 2024, down by 30.1% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 4 homes were sold in Rantoul; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% 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 24 Days Ago

Newest Listings in Rantoul, IL

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