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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Austin is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Austin was a Seller's Market.

Key Takeaway

Austin is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Austin, IL

How much do homes in Austin, IL cost?

Median Sold Price

$290,500

$160/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$15,500(+5.6%)

Key Takeaway

Homes in Austin have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in Austin was $290,500 in November 2024, up 5.6% from last year, and the median price per square foot was $160.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $383.5K$77.5K
-79.8%
2 $147K$200.1K
+36.2%
3 $219K$274.4K
+25.3%
4 $275K$280K
+1.8%
5+ $325K$350K
+7.7%

Summary: Austin housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 79.8%, 2 bedroom homes increased by 36.2%, 3 bedroom homes increased by 25.3%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 7.7%.

Median Sold Price Compared To Nearby Neighborhoods

Galewood
+11.5%
Austin
+5.6%
West Side
+4.2%

Housing Supply in Austin, IL

How many homes are available in Austin, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
182178-2.2%

Summary: The Austin real estate market had 178 homes for sale in November 2024, a 2.2% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 1110
-9.1%
3 4644
-4.3%
4 4148
+17.1%
5+ 8476
-9.5%

Summary: The Austin housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.1%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes decreased by 9.5%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
5427-50.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Austin, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 27 homes were sold or pending in Austin in November 2024, down by 50.0% month-over-month. Of the 27 sold homes, 26% were sold under asking, 7% were sold at asking, and 67% were sold over asking.

Days on Market for Austin, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
37 Days49 Days+32.2%

Summary: Homes in Austin had an average of 49 days on market in Nov 2024, up by 32.2% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 27 homes were sold in Austin; 63% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 15% 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 21 Days Ago

Newest Listings in Austin, IL

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