Is Reed Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Reed Township has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $97.4K | $105K | +7.7% |
2 Bedrooms | $155K | $190K | +22.6% |
3 Bedrooms | $224.9K | $240K | +6.7% |
4 Bedrooms | $286.9K | $304.9K | +6.3% |
5+ Bedrooms | $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 | $194K | $220K | +13.4% |
Braceville Township | $209.9K | $237K | +12.9% |
Reed Township | $196K | $219K | +11.7% |
Housing Supply in Reed Township, IL
How many homes are available in Reed Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
38 | 44 | +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
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 12 | +33.3% |
2 Bedrooms | 5 | 5 | 0.0% |
3 Bedrooms | 16 | 19 | +18.8% |
4 Bedrooms | 7 | 8 | +14.3% |
5+ Bedrooms | 1 | 0 | -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 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 15 | +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
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 2023 | Mar 2024 | CHANGE |
---|---|---|
32 Days | 66 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
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.