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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Marengo Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Marengo Township, IL

How much do homes in Marengo Township, IL cost?

Median Sold Price

$339,745

$164/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$96,245(+39.5%)

Key Takeaway

Homes in Marengo Township have sold for 39.5% more than they did a year ago.

Summary: The median home sold price in Marengo Township was $339,745 in May 2024, up 39.5% from last year, and the median price per square foot was $164.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$190.2K
N/A
2 $168.5K$249.5K
+48.1%
3 $265.2K$332.2K
+25.3%
4 $250K$365K
+46.0%
5+ $367K$370K
+0.8%

Summary: Marengo 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 increased by 48.1%, 3 bedroom homes increased by 25.3%, 4 bedroom homes increased by 46%, and 5+ bedroom homes increased by 0.8%.

Median Sold Price Compared To Nearby Cities

Marengo Township
+39.5%
Marengo
+39.5%
Seneca Township
-15.9%
Hartland Township
-23.0%

Housing Supply in Marengo Township, IL

How many homes are available in Marengo Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5067+34.0%

Summary: The Marengo Township real estate market had 67 homes for sale in May 2024, a 34.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 01
+100.0%
2 78
+14.3%
3 1929
+52.6%
4 1926
+36.8%
5+ 53
-40.0%

Summary: The Marengo Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 52.6%, 4 bedroom homes increased by 36.8%, and 5+ bedroom homes decreased by 40%.

Number of Homes Sold

Apr 2024May 2024CHANGE
13130.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Marengo Township, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Marengo Township in May 2024, the same as the previous month. Of the 13 sold homes, 46% were sold under asking, 23% were sold at asking, and 31% were sold over asking.

Days on Market for Marengo Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
6 Days10 Days+56.6%

Summary: Homes in Marengo Township had an average of 10 days on market in May 2024, up by 56.6% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 13 homes were sold in Marengo Township; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% 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 Marengo Township, IL

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