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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Albany is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Albany has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Albany, IL

How much do homes in Albany, IL cost?

Median Sold Price

$229,900

$108/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$500(+0.2%)

Key Takeaway

The sold price of homes in Albany has remained the same since last month.

Summary: The median home sold price in Albany was $229,900 in October 2024, up 0.2% from last month, and the median price per square foot was $108.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 -$229.9K
N/A
3 $229.4K-
N/A
4 --
N/A
5+ --
N/A

Summary: Albany housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Albany
0.2%
Albany Township
0.2%

Housing Supply in Albany, IL

How many homes are available in Albany, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
550.0%

Summary: The Albany real estate market had 5 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 11
0.0%
3 33
0.0%
4 11
0.0%
5+ 00
0.0%

Summary: The Albany housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
110.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Albany, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Albany in October 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Albany, IL

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

Average Sale Time

Sep 2024Oct 2024CHANGE
3 Days138 Days+4500.0%

Summary: Homes in Albany had an average of 138 days on market in Oct 2024, up by 4500% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Albany are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 1 homes were sold in Albany; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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 16 Days Ago

Newest Listings in Albany, IL

Nearby Markets to Albany, IL