Is Urbana, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Urbana has remained a Seller's Market.
Housing Prices in Urbana, IL
How much do homes in Urbana, IL cost?
Median Sold Price
$195,045
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Urbana was $195,045 in March 2024, up 18.2% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $72.5K | $82K | +13.1% |
2 Bedrooms | $119K | $128K | +7.6% |
3 Bedrooms | $175K | $219K | +25.1% |
4 Bedrooms | $200K | $249.9K | +24.9% |
5+ Bedrooms | $240K | $247.5K | +3.1% |
Summary: Urbana housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.1%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 25.1%, 4 bedroom homes increased by 24.9%, and 5+ bedroom homes increased by 3.1%.
Median Sold Price Compared To Nearby Cities
Urbana Township | $149K | $195K | +30.9% |
Cunningham Township | $165K | $199.2K | +20.8% |
Urbana | $165K | $195K | +18.2% |
Champaign | $184.2K | $205.1K | +11.3% |
Housing Supply in Urbana, IL
How many homes are available in Urbana, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
119 | 141 | +18.5% |
Summary: The Urbana real estate market had 141 homes for sale in March 2024, a 18.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 23 | 29 | +26.1% |
3 Bedrooms | 60 | 74 | +23.3% |
4 Bedrooms | 23 | 21 | -8.7% |
5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The Urbana housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 26.1%, 3 bedroom homes increased by 23.3%, 4 bedroom homes decreased by 8.7%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
28 | 33 | +17.9% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Urbana in March 2024, up by 17.9% month-over-month. Of the 33 sold homes, 42% were sold under asking, 27% were sold at asking, and 30% were sold over asking.
Days on Market for Urbana, IL
How long does it take to sell a home in Urbana, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
52 Days | 37 Days | -27.7% |
Summary: Homes in Urbana had an average of 37 days on market in Mar 2024, down by 27.7% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 33 homes were sold in Urbana; 61% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.