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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Reed Township is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Reed Township, IL

How much do homes in Reed Township, IL cost?

Median Sold Price

$219,000

$163/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$23,000(+11.7%)

Key Takeaway

Homes in Reed Township have sold for 11.7% more than they did a year ago.

Summary: The median home sold price in Reed Township was $219,000 in March 2024, up 11.7% from last year, and the median price per square foot was $163.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $97.4K$105K
+7.7%
2 $155K$190K
+22.6%
3 $224.9K$240K
+6.7%
4 $286.9K$304.9K
+6.3%
5+ $42.5K$385K
+805.9%

Summary: Reed Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 22.6%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 805.9%.

Median Sold Price Compared To Nearby Cities

Braidwood
+13.4%
Braceville Township
+12.9%
Reed Township
+11.7%

Housing Supply in Reed Township, IL

How many homes are available in Reed Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
3844+15.8%

Summary: The Reed Township real estate market had 44 homes for sale in March 2024, a 15.8% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 912
+33.3%
2 55
0.0%
3 1619
+18.8%
4 78
+14.3%
5+ 10
-100.0%

Summary: The Reed Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
915+66.7%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Reed Township, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Reed Township in March 2024, up by 66.7% month-over-month. Of the 15 sold homes, 60% were sold under asking, 33% were sold at asking, and 7% were sold over asking.

Days on Market for Reed Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
32 Days66 Days+107.7%

Summary: Homes in Reed Township had an average of 66 days on market in Mar 2024, up by 107.7% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 15 homes were sold in Reed Township; 47% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 27% 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 22 Days Ago

Newest Listings in Reed Township, IL

Nearby Markets to Reed Township, IL

What housing markets are near Reed Township, IL?