Is Troy, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Troy has remained a Seller's Market.
Key Takeaway
Troy is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Troy, IL
How much do homes in Troy, IL cost?
Median Sold Price
$325,000
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Troy have sold for 15.7% more than they did a year ago.
Summary: The median home sold price in Troy was $325,000 in April 2024, up 15.7% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $61K | - | N/A |
| 2 Bedrooms | $176K | $202K | +14.8% |
| 3 Bedrooms | $231.1K | $280K | +21.1% |
| 4 Bedrooms | $337.5K | $421.9K | +25.0% |
| 5+ Bedrooms | $400K | $450K | +12.5% |
Summary: Troy housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 21.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 12.5%.
Median Sold Price Compared To Nearby Cities
| Jarvis Township | $270K | $317K | +17.4% |
| Troy | $281K | $325K | +15.7% |
| Pin Oak Township | $397.5K | $445K | +11.9% |
| Collinsville Township | $189K | $199.1K | +5.4% |
| Maryville | $321K | $307.7K | -4.1% |
Housing Supply in Troy, IL
How many homes are available in Troy, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 63 | 67 | +6.3% |
Summary: The Troy real estate market had 67 homes for sale in April 2024, a 6.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 32 | 29 | -9.4% |
| 4 Bedrooms | 15 | 22 | +46.7% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Troy housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.4%, 4 bedroom homes increased by 46.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 17 | +6.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Troy, you could pay more than the asking price. 41.2% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Troy in April 2024, up by 6.3% month-over-month. Of the 17 sold homes, 35% were sold under asking, 24% were sold at asking, and 41% were sold over asking.
Days on Market for Troy, IL
How long does it take to sell a home in Troy, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 42 Days | 50 Days | +19.1% |
Summary: Homes in Troy had an average of 50 days on market in Apr 2024, up by 19.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Troy are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 17 homes were sold in Troy; 41% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.