Is Savoy, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Savoy has remained a Seller's Market.
Housing Prices in Savoy, IL
How much do homes in Savoy, IL cost?
Median Sold Price
$375,000
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Savoy was $375,000 in April 2024, up 9.3% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $170K | $207.5K | +22.1% |
3 Bedrooms | $305K | $383.5K | +25.8% |
4 Bedrooms | $400K | $387.5K | -3.1% |
5+ Bedrooms | $350K | $527.5K | +50.7% |
Summary: Savoy 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 22.1%, 3 bedroom homes increased by 25.8%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 50.7%.
Median Sold Price Compared To Nearby Cities
Tolono Township | $287.5K | $379K | +31.8% |
Champaign | $182.5K | $210.5K | +15.3% |
Champaign City Township | $181K | $200.1K | +10.5% |
Savoy | $343K | $375K | +9.3% |
Champaign Township | $238K | $218.4K | -8.2% |
Housing Supply in Savoy, IL
How many homes are available in Savoy, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
29 | 31 | +6.9% |
Summary: The Savoy real estate market had 31 homes for sale in April 2024, a 6.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 2 | -50.0% |
3 Bedrooms | 11 | 11 | 0.0% |
4 Bedrooms | 14 | 18 | +28.6% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Savoy 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 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
7 | 7 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Savoy in April 2024, the same as the previous month. Of the 7 sold homes, 43% were sold under asking, 0% were sold at asking, and 57% were sold over asking.
Days on Market for Savoy, IL
How long does it take to sell a home in Savoy, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
15 Days | 25 Days | +60.5% |
Summary: Homes in Savoy had an average of 25 days on market in Apr 2024, up by 60.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 7 homes were sold in Savoy; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.