Is Kankakee County, 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, Kankakee County has remained a Seller's Market.
Housing Prices in Kankakee County, IL
How much do homes in Kankakee County, IL cost?
Median Sold Price
$201,225
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Kankakee County was $201,225 in April 2024, up 11.8% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $116K | $47.5K | -59.1% |
2 Bedrooms | $130K | $144.5K | +11.2% |
3 Bedrooms | $184.9K | $207.9K | +12.4% |
4 Bedrooms | $245K | $260.5K | +6.3% |
5+ Bedrooms | $227.5K | $322.5K | +41.8% |
Summary: Kankakee County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 59.1%, 2 bedroom homes increased by 11.2%, 3 bedroom homes increased by 12.4%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 41.8%.
Median Sold Price Compared To Nearby Counties
Kankakee County | $179.9K | $201.2K | +11.8% |
Will County | $305.2K | $327.8K | +7.4% |
Iroquois County | $120K | $128.8K | +7.4% |
Grundy County | $248.4K | $259.9K | +4.6% |
Housing Supply in Kankakee County, IL
How many homes are available in Kankakee County, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
323 | 341 | +5.6% |
Summary: The Kankakee County real estate market had 341 homes for sale in April 2024, a 5.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 2 | -50.0% |
2 Bedrooms | 61 | 70 | +14.8% |
3 Bedrooms | 165 | 170 | +3.0% |
4 Bedrooms | 83 | 82 | -1.2% |
5+ Bedrooms | 10 | 17 | +70.0% |
Summary: The Kankakee County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 3%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 70%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
80 | 75 | -6.3% |
Asking Price vs. Sold Price
39 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 75 homes were sold or pending in Kankakee County in April 2024, down by 6.3% month-over-month. Of the 75 sold homes, 52% were sold under asking, 19% were sold at asking, and 29% were sold over asking.
Days on Market for Kankakee County, IL
How long does it take to sell a home in Kankakee County, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
39 Days | 46 Days | +18.8% |
Summary: Homes in Kankakee County had an average of 46 days on market in Apr 2024, up by 18.8% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During April 2024, 75 homes were sold in Kankakee County; 56% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.