Is O'Fallon Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, O'Fallon Township has remained a Seller's Market.
Housing Prices in O'Fallon Township, IL
How much do homes in O'Fallon Township, IL cost?
Median Sold Price
$299,000
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in O'Fallon Township was $299,000 in May 2024, up 1.4% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $69.5K | $92K | +32.4% |
2 Bedrooms | $129.9K | $135K | +3.9% |
3 Bedrooms | $215K | $247K | +14.9% |
4 Bedrooms | $320K | $346K | +8.1% |
5+ Bedrooms | $440K | $446.9K | +1.6% |
Summary: O'Fallon Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32.4%, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Cities
Jarvis Township | $275K | $320K | +16.4% |
O Fallon | $300K | $319.9K | +6.6% |
O'Fallon | $299.8K | $315K | +5.0% |
Lebanon | $180K | $185K | +2.8% |
O'Fallon Township | $295K | $299K | +1.4% |
Housing Supply in O'Fallon Township, IL
How many homes are available in O'Fallon Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
118 | 121 | +2.5% |
Summary: The O'Fallon Township real estate market had 121 homes for sale in May 2024, a 2.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 10 | 12 | +20.0% |
3 Bedrooms | 44 | 43 | -2.3% |
4 Bedrooms | 47 | 44 | -6.4% |
5+ Bedrooms | 17 | 22 | +29.4% |
Summary: The O'Fallon Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes decreased by 6.4%, and 5+ bedroom homes increased by 29.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
34 | 30 | -11.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in O'Fallon Township in May 2024, down by 11.8% month-over-month. Of the 30 sold homes, 13% were sold under asking, 27% were sold at asking, and 60% were sold over asking.
Days on Market for O'Fallon Township, IL
How long does it take to sell a home in O'Fallon Township, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
42 Days | 51 Days | +20.7% |
Summary: Homes in O'Fallon Township had an average of 51 days on market in May 2024, up by 20.7% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 30 homes were sold in O'Fallon Township; 50% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.