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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Urbana Township is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Urbana Township, IL

How much do homes in Urbana Township, IL cost?

Median Sold Price

$195,003

$138/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$5,003(+2.6%)

Key Takeaway

Homes in Urbana Township have sold for 2.6% more than they did a year ago.

Summary: The median home sold price in Urbana Township was $195,003 in September 2024, up 2.6% from last year, and the median price per square foot was $138.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $79.9K$86.5K
+8.3%
2 $124K$128K
+3.2%
3 $213.1K$225K
+5.6%
4 $240K$238.7K
-0.5%
5+ $252.5K$251K
-0.6%

Summary: Urbana Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 0.6%.

Median Sold Price Compared To Nearby Cities

Champaign
+18.0%
Cunningham Township
+6.1%
Urbana
+3.0%
Urbana Township
+2.6%

Housing Supply in Urbana Township, IL

How many homes are available in Urbana Township, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
1521520.0%

Summary: The Urbana Township real estate market had 152 homes for sale in September 2024, the same as August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 2628
+7.7%
3 8177
-4.9%
4 3535
0.0%
5+ 1012
+20.0%

Summary: The Urbana Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.7%, 3 bedroom homes decreased by 4.9%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
4032-20.0%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Urbana Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 32 homes were sold or pending in Urbana Township in September 2024, down by 20.0% month-over-month. Of the 32 sold homes, 50% were sold under asking, 31% were sold at asking, and 19% were sold over asking.

Days on Market for Urbana Township, IL

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

Average Sale Time

Sep 2023Sep 2024CHANGE
14 Days22 Days+50.5%

Summary: Homes in Urbana Township had an average of 22 days on market in Sep 2024, up by 50.5% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 32 homes were sold in Urbana Township; 69% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 3% 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 5 Days Ago

Newest Listings in Urbana Township, IL

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