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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Ottawa Township is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in South Ottawa Township, IL

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

Median Sold Price

$181,500

$136/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$19,500(+12.0%)

Key Takeaway

Homes in South Ottawa Township have sold for 12% more than they did a year ago.

Summary: The median home sold price in South Ottawa Township was $181,500 in March 2024, up 12% from last year, and the median price per square foot was $136.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $49K-
N/A
2 $125K$160K
+28.0%
3 $161.5K$185K
+14.6%
4 $235.6K$234.5K
-0.5%
5+ $207K$322.7K
+55.9%

Summary: South Ottawa 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 increased by 28%, 3 bedroom homes increased by 14.6%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes increased by 55.9%.

Median Sold Price Compared To Nearby Cities

Ottawa Township
+28.2%
Ottawa
+15.0%
South Ottawa Township
+12.0%

Housing Supply in South Ottawa Township, IL

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

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1514-6.7%

Summary: The South Ottawa Township real estate market had 14 homes for sale in March 2024, a 6.7% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 33
0.0%
3 88
0.0%
4 43
-25.0%
5+ 00
0.0%

Summary: The South Ottawa 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 decreased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
43-25.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Ottawa Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in South Ottawa Township in March 2024, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.

Days on Market for South Ottawa Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
25 Days5 Days-80.6%

Summary: Homes in South Ottawa Township had an average of 5 days on market in Mar 2024, down by 80.6% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 3 homes were sold in South Ottawa Township; 100% of homes were sold within 30 days, 0% 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 23 Days Ago

Newest Listings in South Ottawa Township, IL

Nearby Markets to South Ottawa Township, IL

What housing markets are near South Ottawa Township, IL?