Is Mahomet, 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, Mahomet has remained a Seller's Market.
Housing Prices in Mahomet, IL
How much do homes in Mahomet, IL cost?
Median Sold Price
$362,500
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Mahomet was $362,500 in April 2024, up 9.8% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $290K | $355K | +22.4% |
3 Bedrooms | $291.5K | $286.7K | -1.6% |
4 Bedrooms | $375K | $435K | +16.0% |
5+ Bedrooms | $475K | $365K | -23.2% |
Summary: Mahomet 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 22.4%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes increased by 16%, and 5+ bedroom homes decreased by 23.2%.
Median Sold Price Compared To Nearby Cities
Mahomet Township | $330K | $365K | +10.6% |
Mahomet | $330K | $362.5K | +9.8% |
Housing Supply in Mahomet, IL
How many homes are available in Mahomet, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
69 | 63 | -8.7% |
Summary: The Mahomet real estate market had 63 homes for sale in April 2024, a 8.7% decrease 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 | 5 | 4 | -20.0% |
3 Bedrooms | 28 | 18 | -35.7% |
4 Bedrooms | 33 | 37 | +12.1% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Mahomet 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 20%, 3 bedroom homes decreased by 35.7%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
19 | 17 | -10.5% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in Mahomet in April 2024, down by 10.5% month-over-month. Of the 17 sold homes, 53% were sold under asking, 18% were sold at asking, and 29% were sold over asking.
Days on Market for Mahomet, IL
How long does it take to sell a home in Mahomet, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 43 Days | +50.3% |
Summary: Homes in Mahomet had an average of 43 days on market in Apr 2024, up by 50.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 17 homes were sold in Mahomet; 76% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.