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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chenoa is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Chenoa, IL

How much do homes in Chenoa, IL cost?

Median Sold Price

$120,000

$76/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$30,000(-20.0%)

Key Takeaway

Homes in Chenoa have sold for 20% less than they did a year ago.

Summary: The median home sold price in Chenoa was $120,000 in May 2024, down 20% from last year, and the median price per square foot was $76.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $122.2K$95K
-22.3%
3 $152.7K$126.5K
-17.2%
4 $150.3K$148K
-1.5%
5+ $190K$219.2K
+15.4%

Summary: Chenoa housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 22.3%, 3 bedroom homes decreased by 17.2%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes increased by 15.4%.

Median Sold Price Compared To Nearby Cities

Chenoa
-20.0%
Chenoa Township
-20.1%

Housing Supply in Chenoa, IL

How many homes are available in Chenoa, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
57+40.0%

Summary: The Chenoa real estate market had 7 homes for sale in May 2024, a 40.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 11
0.0%
4 23
+50.0%
5+ 13
+200.0%

Summary: The Chenoa 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 decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 200%.

Number of Homes Sold

Apr 2024May 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chenoa, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Chenoa in May 2024, up by 200.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Chenoa, IL

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

Average Sale Time

May 2023May 2024CHANGE
55 Days40 Days-27.7%

Summary: Homes in Chenoa had an average of 40 days on market in May 2024, down by 27.7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 3 homes were sold in Chenoa; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% 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 2 Days Ago

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