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 June 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

$220,000

$165/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$18,500(+9.2%)

Key Takeaway

Homes in Reed Township have sold for 9.2% more than they did a year ago.

Summary: The median home sold price in Reed Township was $220,000 in June 2024, up 9.2% from last year, and the median price per square foot was $165.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $96K$113K
+17.7%
2 $170K$174.5K
+2.6%
3 $225K$247.5K
+10.0%
4 $304.9K$300K
-1.6%
5+ $385K$385K
0.0%

Summary: Reed Township housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.7%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Braceville Township
+11.3%
Reed Township
+9.2%
Braidwood
+9.2%

Housing Supply in Reed Township, IL

How many homes are available in Reed Township, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
4240-4.8%

Summary: The Reed Township real estate market had 40 homes for sale in June 2024, a 4.8% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 98
-11.1%
2 98
-11.1%
3 1914
-26.3%
4 510
+100.0%
5+ 00
0.0%

Summary: The Reed Township housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes decreased by 26.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

May 2024Jun 2024CHANGE
138-38.5%

Asking Price vs. Sold Price

3 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 Reed Township, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Reed Township in June 2024, down by 38.5% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% 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

Jun 2023Jun 2024CHANGE
19 Days11 Days-42.5%

Summary: Homes in Reed Township had an average of 11 days on market in Jun 2024, down by 42.5% compared to last year.

Breakdown of Home Sale Times

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

Summary: During June 2024, 8 homes were sold in Reed Township; 88% of homes were sold within 30 days, 13% 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 26 Days Ago

Newest Listings in Reed Township, IL

Nearby Markets to Reed Township, IL

What housing markets are near Reed Township, IL?