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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mahomet is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

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

+$32,500(+9.8%)

Key Takeaway

Homes in Mahomet have sold for 9.8% more than they did a year ago.

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

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $290K$355K
+22.4%
3 $291.5K$286.7K
-1.6%
4 $375K$435K
+16.0%
5+ $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
+10.6%
Mahomet
+9.8%

Housing Supply in Mahomet, IL

How many homes are available in Mahomet, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
6963-8.7%

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

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 54
-20.0%
3 2818
-35.7%
4 3337
+12.1%
5+ 34
+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 2024Apr 2024CHANGE
1917-10.5%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mahomet, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.

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 2023Apr 2024CHANGE
28 Days43 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

Newest Listings in Mahomet, IL

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