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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Homer Township is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in South Homer Township, IL

How much do homes in South Homer Township, IL cost?

Median Sold Price

$147,500

$92/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$12,550(+9.3%)

Key Takeaway

Homes in South Homer Township have sold for 9.3% more than they did a year ago.

Summary: The median home sold price in South Homer Township was $147,500 in March 2024, up 9.3% from last year, and the median price per square foot was $92.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $105K$102K
-2.9%
3 $134.9K$159K
+17.8%
4 $142K$145K
+2.1%
5+ $280.7K$93.5K
-66.7%

Summary: South Homer Township 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 decreased by 2.9%, 3 bedroom homes increased by 17.8%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 66.7%.

Median Sold Price Compared To Nearby Cities

Sidney Township
+52.4%
Homer
+23.6%
South Homer Township
+9.3%

Housing Supply in South Homer Township, IL

How many homes are available in South Homer Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
45+25.0%

Summary: The South Homer Township real estate market had 5 homes for sale in March 2024, a 25.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 00
0.0%
3 33
0.0%
4 01
+100.0%
5+ 11
0.0%

Summary: The South Homer Township 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
02+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Homer Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in South Homer Township in March 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for South Homer Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
171 Days45 Days-73.7%

Summary: Homes in South Homer Township had an average of 45 days on market in Mar 2024, down by 73.7% compared to last year.

Breakdown of Home Sale Times

1 Home Was 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 South Homer Township are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 2 homes were sold in South Homer Township; 50% of homes were sold within 30 days, 50% 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 15 Days Ago

Newest Listings in South Homer Township, IL

Nearby Markets to South Homer Township, IL