Is Channahon, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Channahon is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Channahon, IL

How much do homes in Channahon, IL cost?

Median Sold Price

$360,000

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$25,000(+7.5%)

Key Takeaway

Homes in Channahon have sold for 7.5% more than they did a year ago.

Summary: The median home sold price in Channahon was $360,000 in April 2024, up 7.5% from last year, and the median price per square foot was $169.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $245K$280K
+14.3%
3 $309.9K$350K
+12.9%
4 $375K$415.5K
+10.8%
5+ $382.2K$375.5K
-1.8%

Summary: Channahon housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes decreased by 1.8%.

Median Sold Price Compared To Nearby Cities

Elwood
+25.8%
Aux Sable Township
+13.3%
Channahon
+7.5%
Channahon
+6.8%
Channahon Township
+6.1%

Housing Supply in Channahon, IL

How many homes are available in Channahon, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
6769+3.0%

Summary: The Channahon real estate market had 69 homes for sale in April 2024, a 3.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 97
-22.2%
3 3644
+22.2%
4 1916
-15.8%
5+ 32
-33.3%

Summary: The Channahon housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 22.2%, 3 bedroom homes increased by 22.2%, 4 bedroom homes decreased by 15.8%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1915-21.1%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Channahon, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Channahon in April 2024, down by 21.1% month-over-month. Of the 15 sold homes, 53% were sold under asking, 13% were sold at asking, and 33% were sold over asking.

Days on Market for Channahon, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
13 Days28 Days+101.6%

Summary: Homes in Channahon had an average of 28 days on market in Apr 2024, up by 101.6% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 15 homes were sold in Channahon; 60% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 13% 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 14 Days Ago

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