Is Champaign County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Champaign County is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

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

+$27,599(+14.5%)

Key Takeaway

Homes in Champaign County have sold for 14.5% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $74K$90K
+21.6%
2 $130K$148K
+13.8%
3 $185K$212.4K
+14.9%
4 $280K$320.2K
+14.4%
5+ $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
+23.6%
Champaign County
+14.5%
Ford County
+10.7%
Douglas County
+4.2%

Housing Supply in Champaign County, IL

How many homes are available in Champaign County, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
608653+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

# BEDSApr 2024May 2024CHANGE
1 56
+20.0%
2 8594
+10.6%
3 301304
+1.0%
4 170196
+15.3%
5+ 4753
+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 2024May 2024CHANGE
1811810.0%

Asking Price vs. Sold Price

62 Homes Were Sold
Under Asking

42 Homes Were Sold
At Asking

77 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Champaign County, you could pay more than the asking price. 42.5% of homes here sold above asking price last month.

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 2023May 2024CHANGE
28 Days36 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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 Champaign County, IL

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