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 March 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

$195,045

$133/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$46,045(+30.9%)

Key Takeaway

Homes in Urbana Township have sold for 30.9% more than they did a year ago.

Summary: The median home sold price in Urbana Township was $195,045 in March 2024, up 30.9% from last year, and the median price per square foot was $133.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $77K$82K
+6.5%
2 $96.5K$128K
+32.6%
3 $172.4K$219.4K
+27.3%
4 $162K$248.4K
+53.4%
5+ $215.2K$247.5K
+15.0%

Summary: Urbana Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.5%, 2 bedroom homes increased by 32.6%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 53.4%, and 5+ bedroom homes increased by 15%.

Median Sold Price Compared To Nearby Cities

Urbana Township
+30.9%
Cunningham Township
+20.8%
Urbana
+18.2%
Champaign
+11.3%

Housing Supply in Urbana Township, IL

How many homes are available in Urbana Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
118140+18.6%

Summary: The Urbana Township real estate market had 140 homes for sale in March 2024, a 18.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 34
+33.3%
2 2329
+26.1%
3 5973
+23.7%
4 2321
-8.7%
5+ 1013
+30.0%

Summary: The Urbana Township 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 23.7%, 4 bedroom homes decreased by 8.7%, and 5+ bedroom homes increased by 30%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2833+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Urbana Township, you may be able to get a good deal. 42.4% of homes here sold below asking price last month.

Summary: A total of 33 homes were sold or pending in Urbana Township 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 Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
52 Days37 Days-27.7%

Summary: Homes in Urbana Township 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

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 March 2024, 33 homes were sold in Urbana Township; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

Newest Listings in Urbana Township, IL

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