Is Champaign County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Champaign County is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Champaign County, IL

How much do homes in Champaign County, IL cost?

Median Sold Price

$215,191

$137/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$25,675(+13.5%)

Key Takeaway

Homes in Champaign County have sold for 13.5% more than they did a year ago.

Summary: The median home sold price in Champaign County was $215,191 in April 2024, up 13.5% from last year, and the median price per square foot was $137.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $75.7K$90K
+18.8%
2 $128K$147.6K
+15.3%
3 $185.1K$210K
+13.5%
4 $275.8K$320.1K
+16.1%
5+ $325K$312.5K
-3.8%

Summary: Champaign County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.8%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes decreased by 3.8%.

Median Sold Price Compared To Nearby Counties

Piatt County
+24.9%
Ford County
+14.1%
Champaign County
+13.5%
Douglas County
+1.5%

Housing Supply in Champaign County, IL

How many homes are available in Champaign County, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
563560-0.5%

Summary: The Champaign County real estate market had 560 homes for sale in April 2024, a 0.5% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 74
-42.9%
2 8479
-6.0%
3 289275
-4.8%
4 141159
+12.8%
5+ 4243
+2.4%

Summary: The Champaign County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 42.9%, 2 bedroom homes decreased by 6%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes increased by 2.4%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
156160+2.6%

Asking Price vs. Sold Price

71 Homes Were Sold
Under Asking

33 Homes Were Sold
At Asking

56 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Champaign County, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 160 homes were sold or pending in Champaign County in April 2024, up by 2.6% month-over-month. Of the 160 sold homes, 44% were sold under asking, 21% were sold at asking, and 35% were sold over asking.

Days on Market for Champaign County, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
24 Days32 Days+29.3%

Summary: Homes in Champaign County had an average of 32 days on market in Apr 2024, up by 29.3% compared to last year.

Breakdown of Home Sale Times

117 Homes Were Sold
Under 30 Days

30 Homes Were Sold
In 30 - 90 Days

13 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 160 homes were sold in Champaign County; 73% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 8% 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 11 Days Ago

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