Is Nokomis, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Nokomis has remained a Seller's Market.
Key Takeaway
Nokomis is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Nokomis, IL
How much do homes in Nokomis, IL cost?
Median Sold Price
$59,200
$43/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Nokomis have sold for 0.5% less than they did a year ago.
Summary: The median home sold price in Nokomis was $59,200 in May 2024, down 0.5% from last year, and the median price per square foot was $43.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $21.7K | - | N/A |
| 2 Bedrooms | $58.3K | $33K | -43.4% |
| 3 Bedrooms | $63.5K | $63K | -0.8% |
| 4 Bedrooms | $91.5K | $100K | +9.3% |
| 5+ Bedrooms | $40K | $121.3K | +203.3% |
Summary: Nokomis 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 43.4%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 203.3%.
Median Sold Price Compared To Nearby Cities
| Nokomis | $59.5K | $59.2K | -0.5% |
| Nokomis Township | $60K | $59.2K | -1.3% |
Housing Supply in Nokomis, IL
How many homes are available in Nokomis, IL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 9 | -18.2% |
Summary: The Nokomis real estate market had 9 homes for sale in May 2024, a 18.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 8 | 6 | -25.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Nokomis 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 decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 0 | 4 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Nokomis, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Nokomis in May 2024, up by 100.0% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Nokomis, IL
How long does it take to sell a home in Nokomis, IL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 219 Days | 101 Days | -53.5% |
Summary: Homes in Nokomis had an average of 101 days on market in May 2024, down by 53.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Nokomis are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 4 homes were sold in Nokomis; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.