Is Champaign County, 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, Champaign County has remained a Seller's Market.
Housing Prices in Champaign County, IL
How much do homes in Champaign County, IL cost?
Median Sold Price
$217,562
$138/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Champaign County was $217,562 in May 2024, up 14.5% from last year, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $74K | $90K | +21.6% |
2 Bedrooms | $130K | $148K | +13.8% |
3 Bedrooms | $185K | $212.4K | +14.9% |
4 Bedrooms | $280K | $320.2K | +14.4% |
5+ Bedrooms | $310K | $327.5K | +5.7% |
Summary: Champaign County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.6%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 14.4%, and 5+ bedroom homes increased by 5.7%.
Median Sold Price Compared To Nearby Counties
Piatt County | $180K | $222.4K | +23.6% |
Champaign County | $189.9K | $217.5K | +14.5% |
Ford County | $122K | $135K | +10.7% |
Douglas County | $131.5K | $137K | +4.2% |
Housing Supply in Champaign County, IL
How many homes are available in Champaign County, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
608 | 653 | +7.4% |
Summary: The Champaign County real estate market had 653 homes for sale in May 2024, a 7.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 85 | 94 | +10.6% |
3 Bedrooms | 301 | 304 | +1.0% |
4 Bedrooms | 170 | 196 | +15.3% |
5+ Bedrooms | 47 | 53 | +12.8% |
Summary: The Champaign County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 15.3%, and 5+ bedroom homes increased by 12.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
181 | 181 | 0.0% |
Asking Price vs. Sold Price
62 Homes Were Sold
Under Asking
42 Homes Were Sold
At Asking
77 Homes Were Sold
Over Asking
Summary: A total of 181 homes were sold or pending in Champaign County in May 2024, the same as the previous month. Of the 181 sold homes, 34% were sold under asking, 23% were sold at asking, and 43% were sold over asking.
Days on Market for Champaign County, IL
How long does it take to sell a home in Champaign County, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
28 Days | 36 Days | +27.6% |
Summary: Homes in Champaign County had an average of 36 days on market in May 2024, up by 27.6% compared to last year.
Breakdown of Home Sale Times
135 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
24 Homes Were Sold
Over 90 Days
Summary: During May 2024, 181 homes were sold in Champaign County; 75% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.