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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Old Town Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Old Town Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Old Town Township, IL

How much do homes in Old Town Township, IL cost?

Median Sold Price

$339,900

$116/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$86,625(-20.3%)

Key Takeaway

Homes in Old Town Township have sold for 20.3% less than they did a year ago.

Summary: The median home sold price in Old Town Township was $339,900 in May 2024, down 20.3% from last year, and the median price per square foot was $116.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 -$69K
N/A
3 $407.3K$305.5K
-25.0%
4 $420K$379K
-9.8%
5+ $567.5K$457.5K
-19.4%

Summary: Old Town 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 did not change, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 9.8%, and 5+ bedroom homes decreased by 19.4%.

Median Sold Price Compared To Nearby Cities

Bloomington
+9.1%
Bloomington City Township
+6.2%
Towanda Township
0.0%
Old Town Township
-20.3%

Housing Supply in Old Town Township, IL

How many homes are available in Old Town Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2331+34.8%

Summary: The Old Town Township real estate market had 31 homes for sale in May 2024, a 34.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 00
0.0%
3 1012
+20.0%
4 1112
+9.1%
5+ 27
+250.0%

Summary: The Old Town 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 20%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 250%.

Number of Homes Sold

Apr 2024May 2024CHANGE
410+150.0%

Asking Price vs. Sold Price

2 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 Old Town Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 10 homes were sold or pending in Old Town Township in May 2024, up by 150.0% month-over-month. Of the 10 sold homes, 20% were sold under asking, 30% were sold at asking, and 50% were sold over asking.

Days on Market for Old Town Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
91 Days29 Days-67.4%

Summary: Homes in Old Town Township had an average of 29 days on market in May 2024, down by 67.4% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 10 homes were sold in Old Town Township; 80% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 10% 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 Old Town Township, IL

Nearby Markets to Old Town Township, IL

What housing markets are near Old Town Township, IL?