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 March 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

$301,290

$160/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$11,165(+3.8%)

Key Takeaway

Homes in Troy Township have sold for 3.8% more than they did a year ago.

Summary: The median home sold price in Troy Township was $301,290 in March 2024, up 3.8% from last year, and the median price per square foot was $160.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $194K$116K
-40.2%
2 $220.5K$233K
+5.7%
3 $279.9K$291.3K
+4.1%
4 $369.3K$385K
+4.2%
5+ $415K$415K
0.0%

Summary: Troy Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 40.2%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Joliet Township
+26.6%
Plainfield Township
+11.4%
Shorewood
+4.7%
Troy Township
+3.8%
Joliet
+3.6%

Housing Supply in Troy Township, IL

How many homes are available in Troy Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
159197+23.9%

Summary: The Troy Township real estate market had 197 homes for sale in March 2024, a 23.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 3433
-2.9%
3 6889
+30.9%
4 4558
+28.9%
5+ 1217
+41.7%

Summary: The Troy 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 decreased by 2.9%, 3 bedroom homes increased by 30.9%, 4 bedroom homes increased by 28.9%, and 5+ bedroom homes increased by 41.7%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
4342-2.3%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

19 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. 45.2% of homes here sold above asking price last month.

Summary: A total of 42 homes were sold or pending in Troy Township in March 2024, down by 2.3% month-over-month. Of the 42 sold homes, 31% were sold under asking, 24% were sold at asking, and 45% 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

Mar 2023Mar 2024CHANGE
31 Days33 Days+5.2%

Summary: Homes in Troy Township had an average of 33 days on market in Mar 2024, up by 5.2% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

4 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 March 2024, 42 homes were sold in Troy Township; 60% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 10% 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 18 Days Ago

Newest Listings in Troy Township, IL

Nearby Markets to Troy Township, IL

What housing markets are near Troy Township, IL?