Is Monee Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monee Township is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Monee Township was a Seller's Market.

Key Takeaway

Monee Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Monee Township, IL

How much do homes in Monee Township, IL cost?

Median Sold Price

$214,166

$119/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$1,316(+0.6%)

Key Takeaway

Homes in Monee Township have sold for 0.6% more than they did a year ago.

Summary: The median home sold price in Monee Township was $214,166 in May 2024, up 0.6% from last year, and the median price per square foot was $119.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $55.5K-
N/A
2 $134.5K$131.4K
-2.3%
3 $190K$175K
-7.9%
4 $284.9K$291.2K
+2.2%
5+ $280.7K$330K
+17.5%

Summary: Monee Township 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 2.3%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 17.5%.

Median Sold Price Compared To Nearby Cities

Richton Park
+6.0%
Monee
+4.8%
Monee Township
+0.6%
Park Forest
0.5%
University Park
0.0%

Housing Supply in Monee Township, IL

How many homes are available in Monee Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
87101+16.1%

Summary: The Monee Township real estate market had 101 homes for sale in May 2024, a 16.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1010
0.0%
3 4346
+7.0%
4 3039
+30.0%
5+ 46
+50.0%

Summary: The Monee Township 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 remained the same, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2316-30.4%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monee Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in Monee Township in May 2024, down by 30.4% month-over-month. Of the 16 sold homes, 50% were sold under asking, 31% were sold at asking, and 19% were sold over asking.

Days on Market for Monee Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
22 Days41 Days+85.2%

Summary: Homes in Monee Township had an average of 41 days on market in May 2024, up by 85.2% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 16 homes were sold in Monee Township; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% 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 1 Day Ago

Newest Listings in Monee Township, IL

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What housing markets are near Monee Township, IL?