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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Troy Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Troy Township, IL

How much do homes in Troy Township, IL cost?

Median Sold Price

$309,247

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$18,247(+6.3%)

Key Takeaway

Homes in Troy Township have sold for 6.3% more than they did a year ago.

Summary: The median home sold price in Troy Township was $309,247 in May 2024, up 6.3% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $145K-
N/A
2 $222K$235K
+5.9%
3 $274.8K$290K
+5.5%
4 $360K$400K
+11.1%
5+ $395K$424.9K
+7.6%

Summary: Troy Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 7.6%.

Median Sold Price Compared To Nearby Cities

Joliet Township
+20.8%
Plainfield Township
+9.3%
Shorewood
+6.8%
Troy Township
+6.3%
Joliet
+4.3%

Housing Supply in Troy Township, IL

How many homes are available in Troy Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
220268+21.8%

Summary: The Troy Township real estate market had 268 homes for sale in May 2024, a 21.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 01
+100.0%
2 3643
+19.4%
3 87122
+40.2%
4 7780
+3.9%
5+ 2022
+10.0%

Summary: The Troy Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 40.2%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 10%.

Number of Homes Sold

Apr 2024May 2024CHANGE
6385+34.9%

Asking Price vs. Sold Price

23 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

43 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Troy Township, you could pay more than the asking price. 50.6% of homes here sold above asking price last month.

Summary: A total of 85 homes were sold or pending in Troy Township in May 2024, up by 34.9% month-over-month. Of the 85 sold homes, 27% were sold under asking, 22% were sold at asking, and 51% were sold over asking.

Days on Market for Troy Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
32 Days29 Days-9.6%

Summary: Homes in Troy Township had an average of 29 days on market in May 2024, down by 9.6% compared to last year.

Breakdown of Home Sale Times

63 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 85 homes were sold in Troy Township; 74% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 6% 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 16 Days Ago

Newest Listings in Troy Township, IL

Nearby Markets to Troy Township, IL

What housing markets are near Troy Township, IL?