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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hometown is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Hometown, IL

How much do homes in Hometown, IL cost?

Median Sold Price

$200,000

$214/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$12,500(+6.7%)

Key Takeaway

Homes in Hometown have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in Hometown was $200,000 in May 2024, up 6.7% from last year, and the median price per square foot was $214.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $175.5K$191K
+8.8%
3 $200K$220K
+10.0%
4 $230K$244K
+6.1%
5+ --
N/A

Summary: Hometown 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 increased by 8.8%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Worth Township
+8.4%
Hometown
+6.7%
Chicago
+3.1%

Housing Supply in Hometown, IL

How many homes are available in Hometown, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1114+27.3%

Summary: The Hometown real estate market had 14 homes for sale in May 2024, a 27.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 47
+75.0%
3 66
0.0%
4 00
0.0%
5+ 11
0.0%

Summary: The Hometown 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 increased by 75%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
14+300.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hometown, you could pay more than the asking price. 75% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in Hometown in May 2024, up by 300.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.

Days on Market for Hometown, IL

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

Average Sale Time

May 2023May 2024CHANGE
13 Days85 Days+531.5%

Summary: Homes in Hometown had an average of 85 days on market in May 2024, up by 531.5% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Hometown has remained consistent over time.

Summary: During May 2024, 4 homes were sold in Hometown; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% 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 10 Days Ago

Newest Listings in Hometown, IL

Nearby Markets to Hometown, IL

What housing markets are near Hometown, IL?